Defying the weak trend in overall market, three new entrants led by Bedmutha Industries today posted handsome gains of up to 77 per cent on the Bombay Stock Exchange (BSE).
Shares of Bedmutha Industries skyrocketed 77.25 per cent to settle at Rs 180.80 on the BSE on the first day of its trade. During the day, the steel wire maker touched a high of Rs 205 over its issue price of Rs 102.
Infrastructure firm Ashoka Buildcon closed 2.88 per cent higher at Rs 333.35. The scrip had surged by 11.82 per cent during the day over its issue price of Rs 324.
Cable services provider Sea TV Network rose by 6 per cent to close at Rs 106 in debut trade on the BSE. During the day, the scrip soared 26.15 per cent over its issue price of Rs 100.
"The rise in these stocks were backed by buying interest ans positive investors confidence," Unicon Financial CEO Gajendra Nagpal said.
All the three newly listed firms have collectively raised about Rs 367 crore from the capital market.
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Bedmutha mopped up Rs 91.8 crore through its initial public offer, while Sea TV and Ashoka raised Rs 50.2 crore and Rs 225 crore, respectively.
The BSE 30-share barometer Sensex ended the day on a weaker note, down by 190.24 points at 20,497.64.