Edserv down 20% after Monday's high
After surging on the first day of listing Monday, Edserv plunged around 20% in early trades on Tuesday. The stock was at Rs 110.05, down Rs27.50 or 19.99%.
By ET Bureau |
MUMBAI: After surging on the first day of listing Monday, Edserv plunged around 20% in early trades on Tuesday. The stock was at Rs 110.05, down Rs27.50 or 19.99%.
The scrip touched an intra-day high of Rs147.90 and an intra-day low of Rs110.5 recording volumes of over 42 lakh shares on the BSE.
Typically, a newly listed stock witnesses high levels of gyrations in the first week of trading due to great level of trader participation and the stock price starts to settle down only after a week or a so, said a dealer.
The scrip touched an intra-day high of Rs147.90 and an intra-day low of Rs110.5 recording volumes of over 42 lakh shares on the BSE.
Typically, a newly listed stock witnesses high levels of gyrations in the first week of trading due to great level of trader participation and the stock price starts to settle down only after a week or a so, said a dealer.
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