Newly listed companies slip; au small finance tanks 20% from intraday high

Newly listed companies slip; AU Small Finance tanks 20% from intraday high

STOCK MARKET NEWS - Shares of newly listed companies AU Small Finance, Central Depository Services (India), Housing & Urban Development Corporation (HUDCO) and Shankara Building Products tanked up to 22% from their intra-day high levels on Friday on profit booking.

AU Small Finance Bank, CDSL and HUDCO hit their respective highs since listing in early morning trade on the National Stock Exchange (NSE).

CDSL zoomed over 200%, Shankara Building Products and AU Small Finance Bank advanced by more than 100%, while HUDCO surged 71% against their respective initial public offer (IPO) prices.

CDSL is locked in lower circuit of 10% at Rs 400, falling 18% from its intra-day high of Rs 486 on NSE. The stock surged 226% against its IPO price of Rs 149 per share.

AU Small Finance too more than doubled against its issue price of Rs 358. The stock dipped 19% to Rs 561 in intra-day trade, falling 22% from its early morning high of Rs 726.

ARTICLE SOURCE – BUSINESS STANDARD