Power Finance Corp trades 4.60 cr on very first day at BSE

Mumbai, Feb 23 (UNI) Power Finance Corporation (PFC) clocked 4.06 crore shares, topping the volume on the very first day today on BSE, brokers said.

PFC was trading at Rs 107.15 on the National Stock Exchange (NSE), a premium of 26 per cent, over the initial public offer (IPO) price of Rs 85, brokers said.

The stock debuted at Rs 113, hit a low of Rs 106 and a high of Rs 119.40. Volumes in the stock were abnormally high at 2.1 crore shares on NSE just in the first few minutes of trade.

The IPO had received a strong response from investors. It was subscribed 77.24 times, amidst heavy bidding by FIIs, and was priced at the upper end of the Rs 73-Rs 85 price band.

NSE has also included the stock in the futures&options segment.

The lot size of PFC in the derivatives segment is 2,400, sub-brokers added.

It debuted at Rs 104 compared to the IPO price of Rs 85. It settled at Rs 111.55. IFCI, Firstsource Solutions, Zee News, Alchemist, Reliance Natural Resources, Tata Teleservices, IDBI, Cinemax India and Tata Steel were the other volume toppers.

IFCI dropped 7.49 per cent, to close at Rs 27.80, on garnering a huge volume of 1.66 crore shares after NSE removed curbs on building fresh positions in the derivative contracts. The scrip has clocked an average daily volume of 65.58 lakh shares in the past one year.

Firstsource Solution surged 0.57 per cent to Rs 80.05, on a huge volume of 1.10 crore shares on the second day after its debut on the BSE. The scrip debuted at Rs 75.10 on yesterday, compared to the IPO price of Rs 64. The scrip settled at Rs 79.60 on the day of debut.

The fourth volume topper for the day was Zee News, which surged dropped 5.81 per cent to close at Rs 41.35 on a big volume of 52.33 lakh shares compared to the company's average daily volume of 27.60 lakh shares in the past one year. Yesterday, Zee News posted a volume of 74.37 lakh shares.

The other high volume gainers were Alchemist at 45.35 lakh (3.83 lakh shares was its average daily volume in the past one year), Reliance Natural Resources at 39.90 lakhs shares (41.25 lakh shares), Tata Teleservices at 32.69 lakh shares (17.56 lakh shares), IDBI at 31.44 lakh shares (11.52 crore shares), Cinemax India at 29.95 lakh shares (86.71 lakh shares), and Tata Steel at 24.81 lakh shares (16.83 lakh shares), brokers added.

UNI