Shares of Chemcon Speciality Chemicals and Computer Age Management Services (CAMS) surged on trading debut Thursday. Chemcon gained as much as 143 per cent to Rs 743.8 over its issue price of Rs 306 per share. The stock, however, come off more than 20 per cent from the highs to end at Rs 585, still logging a gain of 91 per cent on day one.
Shares of CAMS ended at Rs 1401.6, with a gain of 14 per cent over its issue price of Rs 1,230. The stock touched intra-day high of Rs 1,550 on the BSE, where it listed.
Both Chemcon and CAMS extended the good listing day performance seen over the past one month. Previously, listings of Route Mobile, Happiest Minds and Rossari Biotech have generated stellar returns for investors.
Chemcon’s Rs 318-crore IPO was subscribed nearly 150 times, while the Rs 2,244-crore IPO of CAMS was subscribed 47 times.
CAMS is India’s leading mutual fund registrar and transfer agency. It provides backend support to the country’s Rs 27-trillion mutual fund industry. Chemcon is a manufacturer of pharmaceutical chemicals.
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