Mazagon Dock lists with a 49% premium over the bid value:
To begin with, the Mazagon Dock Shipbuilders is the largest defence company in India. The company entered into the public through its initial public offering.
On October 12th Intraday trade, the company shares listed with 49.14% gain and stood at Rs. 214.90 from the bid value on BSE. Similarly, the company shares traded with a 48.21% gain and stood at Rs. 214.90 per equity share on the National Stock Exchange.
Previously, in the IPO subscription period the company share value stood at Rs. 145 per equity share. Mazagon Dock shares stood at 171.95 INR on the National Stock Exchange.
The IPO worth of the company is stood at Rs. 444 Cr. The company shares subscribed nearly 157.40 times during the subscription period from 29th September to 1st October 2020. At the time of subscription, NIIs subscribed 678.88 times, QIBs subscribed 89.71 times and RIIs quoted 35.63 times.
Mazagon Dock Shipbuilders is the only company supplying conventional submarines and destroyers to the Indian Navy. The company having a maximum shipbuilding capability of 40,000 DW.
Stock Market Update:
Stock Market October 12th: On Monday, both Sensex and Nifty seem to trade in a bullish trend in the stock market. The Sensex stood traded gain with 40,593.80 levels and Nifty stood traded gain with 11,930.95 levels. The Sensex raised 84.31 points with a 0.21% gain. Besides, Nifty has raised 16.75 points with a 0.14% gain.
On the other hand, the number of confirmed or coronavirus cases in India reached 71,20,538 as of October 12th, and deaths reached 1,09,184.
In the border market, the S&P BSE Midcap index reported a bearish trend in the stock market today. It declined 70.25 points with a 0.48% loss and reached a 14,695.30 level. The S&P BSE Smallcap index declined 59.45 points with a 0.40% loss and reached a 14,906.78 level. However, the Nifty Bank declined 134.00 points with a 0.56% loss and reached a 23,712.80 level.