Poor starter public offers bounce back

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Allcargo Global675.00670.151280.00-0.7089.60 Deep Inds36.0027.9057.70-22.5060.30 Kew Inds30.0023.6047.15-21.3057.20 Accel Frontline75.0070.70111.25-5.7048.30 HOV Services200.00179.75273.05-10.1036.50 Xl Telecom150.00136.00201.05-9.3034.00 Gitanjali Gems195.00167.15250.55-14.3028.50 Jagran Prakashan320.00273.65355.95-14.5011.20 *Change over listing price #Change over current close  They are currently trading at 30 to 90 per cent premiums compared with discounts of over 10-20 per cent to their issue prices. Jagran Prakashan which listed at 14 per cent discount, are also commanding premium now. Cairn India, Unity Infraprojects and Price Focus too have gained some ground to hover around their offer prices compared with a discount of 15 per cent on listing.  For some counters, the turnaround can be attributed to excellent quarterly numbers. Kew Industries, Accel Frontline, Gitanjali Gems and Jagran Prakashan posted a whopping over 60 per cent growth in net profit during the quarter ended December 2006. XL Telecom registered a net profit of Rs 5.58 crore in the October-December quarter against the Rs 10.72 crore net profit posted in the entire 2005-06.  Gas distribution firm Deep Industries surpassed its entire previous year net profit in the December quarter of the current finanical year. It posted a net profit of Rs 4.06 crore in the latest quarter against Rs 1.79 crore in the entire 2005-06.  Kew Industries and Deep Industries, both debuted at 22 per cent discount, are currently quoting over 55 per cent premiums to their offer prices.  The former