Religare touched a high of Rs 601 on its First Day in Stock Markets
Religare Enterprises has got listed on Stock Exchanges today. The stock has offered decent returns to investors. The IPO was over-subscribed by 156 times. Good amount of premium was expected by technical analysts on listing of Religare. Ranbaxy’s Investment Services Company Religare has a good balance sheet. The company is trading at a decent P/E ratio and the investment & finance sector is booming.
The stock opened on NSE at 323.75 and went up to Rs 601 in early trades. At 10.30 am, the stock is quoting at Rs 562 on NSE. Investors have gained nicely compared to the issue price.
In Gujarat and many other regions, there was a premium on application as well in grey markets. Many IPOs in recent months have given decent returns and investors are betting their money on new offers in primary markets.
