Tata Technologies records seventh-highest listing day gains
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Tata Technologies, which had a bumper listing on Thursday, recorded the seventh-highest listing day gains, said Vaibhav Vidwani, Research Analyst at Bonanza Portfolio.
Tata Technologies had a listing gain of 168 per cent on Thursday.
The highest listing day gain was recorded by Burnpur Cement in 2008 at 286 per cent. This was followed by Sigachi Industries with a listing day gain of 270 per cent in November 2021. Allied Computers International had a listing day gain of 214 per cent in 2007, he said.
Paras Defence and Space Technologies had a listing day gain of 185 per cent in October 2021, while Religare Enterprises had a listing day gain of 182 per cent in 2007. Vishal Retail had a listing day gain of 179 per cent in 2008.
Tata Technologies stock, which started trading at a premium of 140 per cent, has risen 168 per cent from its issue price to Rs 1,334 on the BSE. This placed it seventh among the equities with the biggest listing day gains, said Vidwani.
Bumper listing was seen in Tata Technologies and Gandhar Oil IPO, while Fedbank Financials saw a subdued listing. Tata Technolgies and Gandhar both listed at a premium of 1.4x and 76 per cent, respectively, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services.
Defence stocks were in action on Thursday after the Defence Acquision Council (DAC) approved the purchase of 97 Tejas aircraft and 156 Prachanda helicopters, according to media reports.
