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IPO Watch: Alive and Kicking

The Portfolio of IPO stocks did fairly well in August. All of them delivered positive returns and most of them were able to beat the Sensex.

The Portfolio of IPO stocks did fairly well in August. All of them delivered positive returns and most of them were able to beat the Sensex. Tech Mahindra got listed towards the end of the month and has been included in our list of IPO stocks, while Jet Airways made an exit.

Tech Mahindra, a joint venture between Mahindra & Mahindra and British Telecommunications, is a leading provider of IT services and solutions to the telecom industry. The company's recent initial public offering proved to be quite a success. The issue was over-subscribed by over 70 times and signalled the revival of investor interest in the primary markets. And the investment has proved to be quite a profitable in the initial days after the stock's listing. The stock was offered at Rs 365 per share. But after listing on August 28, it zoomed to Rs 539 in the first two days, returning a handsome 48 per cent. Among others, Punjab National Bank and HT Media performed well too, to rise by more than 20 per cent over the one month period ending August 29. Jaiprakash Hydro and Reliance Petroleum, though, failed to make any significant gains, as they managed only 3.11 and 3.62 per cent returns over the same period, respectively.