The stock had witnessed 220 bulk deals (including 140 on NSE and 80 on BSE).The total traded quantity was about 2 crore shares while the issue size is 36 lakh shares. The stock has surged more than 70 per cent in the three days since listing. This is yet another case of operator driven mid-cap rise.
Some updates:
The company is a player with its total income at Rs. 95.66 crores with PAT at Rs. 14.50 crores resulting in an EPS of Rs. 16. Many quality mid cap IT stocks are available in a P/E band of 6 to 8 times, while this will be a small cap company which would rule at much lower PE. At CMP, the stock is trading at a P/E of 13 times.
There have been many such stocks like Resurgere Mines,GSS America, Selmcl, Ackruti city etc , driven up by such operators, which are now substantially below the traded price during the listing time.
Though there may be some more fireworks left,it would languish after that.
Buyer Beware !
