Thursday, April 10, 2008

Sita Shree Food IPO - Listing

Sita Shree Food got listed on markets this week. It hit an intraday high of Rs 46.65 before closing the day at Rs 43.90, up 46.33% over its offer price of Rs 30. It traded with volumes of 3,79,84,808 shares on the BSE.

On the NSE, the stock surged by 45.67% to settle at Rs 43.70. It traded with volumes of 3,53,54,825 shares and witnessed a turnover of Rs 153.22 crore. Sita Shree has touched a high/low of Rs 46.70 and Rs 33.95, respectively.

The listing was very good for investors considering that analysts had not recommended this IPO. We also maintain our position towards this stock and warn investors not to invest in this stock. It is likely to fall in the coming days. If you have got the shares through IPO, it is prudent to make listing gains and get out of the stock now.

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