Two IPOs (Initial Public offer) – NBCC and MT Educare listed on stock exchanges today.
State owned NBCC (National Buildings Construction Corporation) disappointed investors as it fell more than 10% from its issue price of Rs. 106 to Rs. 95.05 and hit its lower circuit. The equilibrium price for the stock has fixed at Rs 100 a share, so the upper circuit comes at Rs 105 and lower circuit at Rs 95.05. The picture below shows the trading chart for NBCC on listing day on BSE.
On the other hand education support and coaching services provider MT Educare cheered its investors by hitting its upper circuit. It shot up 12.94% to Rs. 90.35 from its issue price of Rs. 80. The equilibrium price for a share has been decided at Rs 86.05; accordingly the upper circuit stands at Rs 90.35 and lower circuit at Rs 81.75. The picture below shows the trading chart for MT Educare on listing day on BSE.