Jagran Prakashan debuts with premium; drops sharply later
Mumbai, Feb 22 (UNI) Jagran Prakashan Ltd, publishers of Hindi daily 'Dainik Jagran', made its debut on the stock markets today. On the National Stock Exchange (NSE) the Jagran scrip listed with a premium of 12.50 per cent whereas on the Bombay Stock Exchange (BSE) it was listed with a premium of 17.15 per cent.
However, the scrip traded with loss in late morning session on both the stock exchanges.
In a wild swing, the Jagran scrip saw a drop of Rs 116 on the BSE from the day's high of Rs 405 to Rs 289.2.
On the NSE too it fell by Rs 100 from a high of Rs 392 to a low of Rs 290.
On the BSE, the scrip opened at Rs 376 and touched a high of Rs 405 but later dipped to a low of Rs 289.2.
The scrip traded at Rs 289.7 at 1217 hrs and saw an exchange of 57 lakh plus shares on the BSE.
The scrip opened at Rs 361 per share against the fix issue price of Rs 320 per share of Rs 10 value on the NSE.
The media stock was trading 8.17 per cent lower at Rs 293.85 in the mid-morning session with a loss of Rs 26.15 per share.
The media scrip touched a high of Rs 392 and a low of Rs 290 during the first hour of trading at the NSE, where more than 62.41 lakh shares worth Rs 194 crore.
UNI RRP RSY AW1254