Shares of the public sector hydro power producer NHPC tumbled nearly four per cent in the first week of its trade on the Bombay Stock Exchange (BSE), even as the broader market indicator Sensex gained nearly one per cent during the same period.
NHPC ended its first week on the exchange at Rs 35.25, down 5.67 per cent compared to the closing price on September 1, the day NHPC got listed on the bourse.
On the first day at the BSE, the scrip settled at Rs 36.70, just 70 paise or 1.94 per cent above its issue price of Rs 36.
A similar trend was witnessed for the newly listed private sector power producer Adani Power.
Between September 1 and 4, shares of Adani Power fell 2.23 per cent, ending the week at Rs 98.60, down 1.4 per cent from its issue price of Rs 100.
Adani got listed on the stock exchanges on August 20, and rose marginally to Rs 100.05 on the listing day after a lukewarm response from investors.
The BSE Power Index also fell marginally by 0.30 per cent to close at 2,933.41, during the period under review.
The broader market barometer Sensex though rose slightly, ending the week 0.88 per cent up at 15,689.12.
