Jewellery stock Manoj Vaibhav Gems N Jewellers jumps 50% in one month after par listing. Do you own?
Stock market today: Shares of Manoj Vaibhav Gems N Jewellers Ltd has been in uptrend ahead of Diwali Muhurat trading 2023. Just a month ago, this jewellery stock had a flat listing at ₹215 on BSE and NSE. However, after par listing, this stock has been rising continuously and clombing new highs on a regular basis.
Manoj Vaibhav Gems N Jewellers share price today opened upside and went on to climb to a new peak of ₹322.40 per share on NSE. Comparing its listing price on NSE and BSE, the stock has delivered around 50 per cent return to those allottees who remained invested with the stock despite par listing. Diwali 2023: Sumeet Bagadia sees Nifty 50 at 24,000.
Recommends 5 stocks to buy The initial public offering (IPO) of this jewellery stock was offered at ₹204 to ₹215 per equity share in last week of September 2023. The mainboard stock listed on Indian exchanges on 3rd October 2023. Manoj Vaibhav Gems N Jewellers shares had par listing as it listed on BSE and NSE at ₹215 per share levels.
In fact, it made a low of ₹210.10 apiece on NSE on the listing date, giving a fresh investor to buy the stock below its issue price. The further remained under sell off heat and touched its life-time low of ₹202 per share on NSE in next few sessions. However, the stock attracrted bargain hunting from value investors ahead of fast approaching Diwali 2023.
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