Extending its losses, vehicles and locomotive bodies manufacturer, Commercial Engineers & Body Builders Co (CEBBCO) today tanked over 11 per cent on the first day of trade at the Bombay Stock Exchange, against its issue price of Rs 127.
After making a weak opening, the scrip plunged 11.61 per cent on the BSE, to settle at Rs 112.25. During the day, the scrip tumbled 16.29 per cent to hit an intra-day low of Rs 106.30, amid a volatile broader market.
Similarly, on the National Stock Exchange, the counter closed at Rs 109.75, down 13.58 per cent.
In addition, over two crore shares of the company changed hands on the first day of trade on the two exchanges.
The company has raised Rs 172 crore through its initial public offer (IPO) and plans to utilise the fund for the capital expenditure of its railway project, pre-payment of identified loan facilities and general corporate purposes.
Meanwhile, after a volatile session, the broader gauge Sensex finished the day at 20,168.89, up 43.84 points from the previous close.
