Monday, 23 May 2011

Sanghvi Forging & Engineering got listed on the NSE at a premium of over 3 percent closed at Rs. 110/- (30% Gain)

Shares of Sanghvi Forging & Engineering got listed on the NSE at a premium of over 3 percent vis-a-vis their issue price of Rs 85 apiece.

Shares of the company opened at Rs 88 apiece, reflecting a jump of 3.52 percent over the issue price on the National Stock Exchange (NSE). Later, the stock was trading at Rs 110.00 apiece, up 29.50 percent from the issue price

In terms of volume, over one crore shares of the company changed hands on the bourses in early trade.

The company had entered the capital market through a Rs 36.9 crore initial public offer with a price band of Rs 80-85 per share.

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