Holding steady around 1725 Gain of 31%
VA Tech Wabag which had issued shares in a price band of Rs 1230-1310 for a Rs 5 paid up share listed today on the BSE at Rs 1655 and at Rs 1500 on the NSE. The share made a high of Rs 1744.50 on the BSE and Rs 1745.65 on the NSE respectively. The low on the BSE was Rs 1651.10 and the open of Rs 1500 on the NSE was the low. The share is currently trading at Rs 1725 which is a gain of Rs 415 or almost 32%.
| Exchange | Open | High | Low | Close | Net Change | % gain | Volume | Wt Avg |
| BSE | 1655.00 | 1744.50 | 1651.10 | 1725.00 | 415.00 | 31.68 | 1744297 | 1708.28 |
| NSE | 1500.00 | 1745.65 | 1500.00 | 1727.00 | 417.00 | 31.83 | 2863362 | 1707.17 |
| Total | 4607659 | |||||||
The volumes have been brisk and in the first hour of trade 46.07 lakh shares or roughly 1.28 times of the issue size of 36.07 lakh shares have been traded. The issue was for Rs 125 crs and an offer for sale of 26.53 lakh shares. The issue was very well received and was subscribed 36.22 times.
The weighted average of the first hour’s trade is close to Rs 1708 indicating that almost all trades are in an around this price. If one were to observe the trading range between the high and low has been quite narrow with the BSE low being Rs 1651 and the high being Rs 1744.50. This makes the range just about Rs 95 which is a mere 7% of the issue price of Rs 1310.
The share is off to a flying start and appears that there is buying interest in the same. The share looks unlikely to slip to new lows and should certainly hold around these levels.
