Money on the markets

A maturing market amid the mayhem

Technofab Engineering lists at a premium

July 16, 2010

MARKETS-SOUTHASIA-STOCKS/

Shares of Technofab Engineering debuted on the BSE on Friday at 272 rupees, up 13.33 percent versus its issue price of 240 rupees.

Within minutes, the scrip touched a high of Rs 297, up 12 per cent from its opening price. The stock ended 23 percent higher from its issue price at 295.65 rupees with volumes of 9.4 million shares.

The engineering firm had entered the primary market on June 29 with an issue of 29.90 lakh shares of Rs 10 each with a price band of Rs 230 to Rs 240 a share. It has raised Rs 71.76 crore through the IPO.

Do you think Tchnofab makes a good buy now?

Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
  •