MOIL dazzles on debut trade, scrip surges over 24 pc | business | Hindustan Times
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MOIL dazzles on debut trade, scrip surges over 24 pc

Trimming its initial gains weighed down by negative sentiments in the market, MOIL which debuted on the bourses today, zoomed over 24 per cent on the Bombay Stock Exchange against the issue price of Rs 375.

business Updated: Dec 15, 2010 19:21 IST

Trimming its initial gains weighed down by negative sentiments in the market, MOIL which debuted on the bourses on Wednesday, zoomed over 24 per cent on the Bombay Stock Exchange against the issue price of Rs 375.

The manganese ore major had a handsome debut on Wednesday, listing at a premium of 46.93 per cent at Rs 551 on BSE.

Later, the stock pared some of its gains on the back of profit taking and ended at Rs 466.50, up 24.4 per cent versus the issue price.

A similar uptrend was seen at the National Stock Exchange as well, where shares in MOIL closed at Rs 464.20, up 23.79 per cent.

In terms of volume, over nine crore shares of the company were traded on the two bourses.

The attractive pricing of MOIL's IPO lured the investors, which saw the company making a power-packed debut on the bourses, a market expert commented.

Meanwhile, the BSE barometer Sensex ended the day at 19,647.77, down 151.42 points.