Metro Brands, MapmyIndia stocks shrug off anchor selling to set new highs

Analysts said the allotment made to anchor investors by these two companies was relatively low which helped prevent any intensive selling pressure

Shares of footwear retailer Metro Brands and digital mapping services provider CE Info Systems (MapmyIndia) rose sharply on Monday even as the 30-day anchor lock-in period following the initial public offering (IPO) ended.

Metro Brands jumped 19.5 per cent to end at a new record high of Rs 607. Meanwhile, MapmyIndia rose 10.7 per cent in intra-day trade to hit a new high of Rs 1,918. The stock settled at Rs 1,852, up nearly 7 per cent over its previous day’s close.

Analysts said the allotment made to anchor investors by these two companies was relatively low which helped prevent