These IPOs of FY23 rally up to 117% from their 52-week lows; do you own any?

Select IPOs, which hit the primary market in the financial year 2022-23 (FY23), bounced back smartly after a volatile year for the domestic equity market. Data available with Ace Equity showed that the stock of Rainbow Children's Medicare rallied the most 117 per cent to Rs 896 on May 19, 2023, from its 52-week low of Rs 413 scaled on June 20, 2022. The company got listed on bourses on May 10, 2022, at Rs 506 with a 6.6 per cent discount against the issue price of Rs 542.  On the other hand, the benchmark BSE Sensex has advanced 21 per cent from its 52-week low levels in this duration.

Market watchers believe that a couple of factors including rising interest rates, war between Russia and Ukraine, and volatile inflows by foreign institutional investors weighted market sentiment in the last 12 months. However, these select newly listed stocks have rebound sharply from their 52-week lows.

Kaynes Technology India with a current market capitalisation of Rs 6,900 crore on May 19, 2023, this stock is trading 90 per cent higher at Rs 1187 from its 52-week low of Rs 625. It was listed on Nov 22, 2022, at Rs 775 with a 32 per cent premium to the issue price of Rs 587.

Prudent Corporate Advisory Services' share price is up 86 per cent at Rs 859 from a 52-week low of Rs 463. It has the latest m-cap of Rs 3,559 crore. This stock was listed on May 20, 2022, at Rs 660 with a 5 per cent premium to the issue price of Rs 630.

Fusion Micro Finance This stock has surged 48 per cent to Rs 476 from a 52-week low of Rs 321. It was listed at Rs 360 on Nov 15, 2022. Fusion Micro Finance has the latest m-cap of Rs 4,786 crore.

Harsha Engineers International was listed on Sep 26, 2022, at Rs 444 with a 35 per cent premium to the issue price of Rs 330. At the current market cap of Rs 4132 crore, this stock is trading 47 per cent higher at Rs 454 from its 52-week low of Rs 309.

Some other top-performing IPOs of last financial year that are trading at least 30 per cent high from their 52-week lows are Global Health (up 43 per cent), Paradeep Phosphates (up 42 per cent), Vedant Fashions (up 36 per cent), Sula Vineyards (up 35 per cent) and Syrma SGS Technology (up 32 per cent).