New India Assurance makes a tepid debut; shares list at Rs 748.90/sh on BSE

New India Assurance
The country's largest general insurance firm New India Assurance Company made a tepid listing on stock exchanges. The scrip got listed at Rs 748.90 on BSE, a discount of 6.4% over its issue price of Rs 800.

The price band for the offer was set at Rs 770-800 per equity share.

The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 2.34 times, non-institutional investors 12% and retail investors 11%, according to data available with the NSE.

New India Assurance Company Ltd is currently trading at Rs 733.8, down by Rs 66.2 or 8.28% from its previous closing of Rs 800 on the BSE.

The scrip opened at Rs 748.9 and has touched a high and low of Rs 749 and Rs 717.75 respectively. 





Comments

Post a Comment

Popular posts from this blog

Opening Bell - Markets open higher

Image
At 9:15 AM, the BSE Sensex opened higher by 77 points at 31,738, while the Nifty50 opened higher by 29 points at 9,945 mark. Indiabulls Housing Finance was top Nifty gainer trading at Rs 1,288.2 per share, up by 1.89% while Bharti Infratel was top Nifty loser trading at Rs 370.3 per share, down by 0.3%. There were 1,034 advances, 374 declines and 424 unchanged stocks on NSE reflecting strong positive sentiments floating in the market. ITC, HDFC Bank and ICICI Bank are among the top contributors to the gains of Nifty and Sensex in the morning hours. Nifty50 has immediate resistance placed at the level of 9,940, followed by 9,980-10,000, and if it sustains above these levels, it may move higher up to the level of 10,080. The rupee opened at 64.03 per USD as compared to the previous closing price of 64.09 per USD. The Dow Jones Industrial Average rose 54 points to finish at 21,808. The Nasdaq Composite Index advanced 18 points to close at 6,393. The S&P 50...
Read more

Opening Bell - Markets open higher; Eicher Motors top Nifty gainer

Image
At 9:15 AM, the BSE Sensex opened higher by 32 points at 31,694, while the Nifty50 opened higher by 28 points at 9,958 mark.   Eicher Motors is top Nifty gainer trading at Rs 33,271.65 per share, up by 1.25% and Tata Power is top Nifty loser trading at Rs 77.05 per share, down by 0.39%. There are 957 advances, 424 declines and 459 unchanged stocks on NSE reflecting mixed sentiments floating in the market.   On the broader markets, BSE Mid-cap index is trading at 15,846 level, up by 0.15% while BSE Small-cap index is trading at 16,384 level, up by 0.28%.   The rupee opened at 63.88 per USD. The tech-heavy Nasdaq Composite index ended at 6,398, up by 5 points, whereas the Dow Jones Industrial Average dipped 23 points to close at 21,785 and the S&P ended flat with a negative bias.   A majority of the Asian stock indices were trading in the positive territory in early trade on Friday. Hong Kong's Hang Seng has risen 0.46% and China’s Shanghai Composite has gai...
Read more

Markets off day's high in late trades

Image
        0 Markets off day's high in late trades as indices fail to hold on to intraday gains. The 10,000 psychological mark is proving to act as a strong resistance zone for the Nifty. Bank Nifty too has lost ground; crucial support is now seen around 23,600 zone for Bank Nifty. Trump’s protectionist policies leading to the trade war scenario between US and China has negatively impacted major Asian indices. BSE Sensex toppled over 1% losing 400 points in the afternoon trade and is holding at 32,607. Nifty50 was down 121 points at 9,992. Barring IT sector being marginally up, all sectoral indices are in the red on BSE Sensex. The impact of steel and aluminium import tariffs imposed by US further led to the downfall of Metal index, as it slips over 3% on BSE Sensex. Vedanta, Hindalco and Tata Steel have majorly dragged the index down by ~313 points out of 425 points cumulatively. 2 million shares of SAIL have been traded with the stock ...
Read more