VR Logo

IPO Watch: New Listings Shine

The recently listed stocks did well during the month of October. The Sensex delivered returns of 4.37 per cent during the one-month period ending October 27, 2006, but most of the stocks listed below were able to outpace the markets by a fair margin.

The recently listed stocks did well during the month of October. The Sensex delivered returns of 4.37 per cent during the one-month period ending October 27, 2006, but most of the stocks listed below were able to outpace the markets by a fair margin.

The biggest mover turned to be the newly-listed Development Credit Bank. The stock got listed on October 27, and the same day it zoomed to Rs 47, as against its offer price of Rs 26. This translates into a phenomenal 80 per cent return on the very first day of listing.

Another big mover on the bourses was Tech Mahindra. The stock has witnessed a tremendous rally after its listing on August 28 this year. By October 27, its price had crossed the Rs 1,000 mark to clock gains of 62 per cent over the one-month period. The subscribers to its initial public offering, who got the share at Rs 365 per share, have earned returns of 177 per cent in a short span of two months.

IDFC, Sasken Communication Technologies and Yes Bank were among the other major gainers who rulled the street during the festive month, all rising by close to 20 per cent over the month. Reliance Petroleum and Sun TV though had reasons to get disappointed as they both ended the month in red.