Jewellery stock Manoj Vaibhav Gems N Jewellers rises 65% within two months after listing of shares. Do you own?
Stock market today: Shares of Manoj Vaibhav Gems N Jewellers Ltd have been in uptred after listing on Indian stock market bourses. Manoj Vaibhav Gems share price listed on NSE and BSE at ₹215 per equity share on 3rd October 2023, which was a flat listing against the issue price of ₹204 to ₹215 per equity share. However, the jewellery stock witnessed strong buying interest among stock market bulls after flat listing.
This led to sharp rise in Manoj Vaibhav Gems share price from ₹215 to ₹355 per share levels in near two months of its listing, delivering to the tune of 65 per cent to the allottees and those who bought Manoj Vaibhav Gems shares post-listing. Also Read: Nifty at record high; time to increase exposure to equities or turn cautious? Manoj Vaibhav Gems share price today opened upside at ₹342.15 apiece levels on NSE and went on to hit intraday high of ₹363.95 per share levels within few minutes of stock market's opening bell today. However, stock soon witnessed profit taking and it came down to the tune of ₹355 apiece levels.
Also Read: Tata Technologies share: Profit taking triggers. 5 reasons to avoid buying rush The price band for the initial public offering (IPO) of this jewellery stock was set at ₹204 to ₹215 per equity share. The mainboard stock listed on the Indian exchanges on 3rd October, 2023.
After listing flat at ₹215 per share, the stock remained under pressure and touched its life-time low of ₹202 per share on the NSE in the next few sessions. However, the stock attracted bargain hunting from value investors ahead of Diwali. Manoj Vaibhav Gems share price rebounded from ₹202 apiece levels and went on to hit life-time high of ₹382 per share levels, ascending to the tune of 90 per cent from its record
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