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A2Z plunges on debut

Photo

A stockbroker uses his terminal to trade at a brokerage firm in Mumbai September 30, 2008. REUTERS/Punit Paranjpe/Files

Shares in A2Z Maintenance and Engineering Services made a peculiar trading debut on Thursday – opening above the issue price of 400 rupees per share on one exchange, and lower on another – before closing sharply down.

The counter opened at Rs 500 on the NSE, but immediately slipped below its issue price and ended 17.9 percent lower at 328.15 rupees. On the BSE, it closed 12.3 percent down at 328.90 rupees.

Do you think the counter provides a good opportunity for investors, or will it slip further?

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