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Two Of 2017 IPO Stocks Are Hitting New Highs
Many a IPO stocks have resulted in losses for the investors and are trading at prices lower than their issue price such as the stock of GIC Reinsurance.
The year 2016 and 2017 has been the year of IPOs. Though ace investors like Warren Buffet have been warning investors to remain away from this rush and many a IPO stocks have resulted in losses for the investors and are trading at prices lower than their issue price such as the stock of GIC Reinsurance.
Besides this story, there are two such stocks of this year who have run upto 300% over their issue price since their debut on the stock markets.
Apex Frozen Foods: A company into ready to cook food products production and exports has since its debut risen by as much as 400% against its issue price of Rs. 175 per share. The stock was last seen trading at Rs. 705.45 on the BSE. This is the highest price till date on the bourses.
Shankara Building: The stock made its debut on April 4 and has made a stellar run from the issue price of Rs. 460 per share to the last traded price of Rs. 1877.10 on the BSE. This marks a whopping 300% plus return for investors in just 9 months time frame. And the company in the building materials space is likely to gain going forward with the more favourable GST rate now.
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