R.P.P. Infra Projects Limited made its debut and listed at a ceremony held at the BSE. The listing price was the issue price of Rs 75 on the BSE and NSE. The high was Rs 80.40 on the BSE and an almost similar Rs 80.50 on the NSE. The high was made in the first few minutes of trade itself and thereafter the share lost ground virtually throughout the day. The low of the day was Rs 67.35 on the BSE and Rs 67.20 on the NSE. The lows were made in the last 30 minutes of trade and are indicative of the kind of pressure on the stock.

The trading volumes were high and the total trading volume was 502.84 lakh. The IPO size was 65 lakh shares and the traded volume was 7.73 times the same. Delivery volume was 51.33 lakhs which was 10.21% of the traded volume and 79% of the IPO size. The weighted average of the day was 73.52 on the BSE and Rs 73.53 while the weighted close was Rs 68.95 on the BSE and an almost similar 68.90 on the NSE. The difference between the weighted average and the close indicates the selling pressure witnessed in the share.

From the price chart above, it is very clear that the stock went down with volumes post 3 pm and the stock just failed to recover thereafter. The fundamentals of the stock are weak and it was recommended by this website to avoid the issue on terms of fundamentals and corporate governance issues. The fact that the issue was expensive and did not warrant subscription was also highlighted in the article. Even though the issue has listed and is now available at the lower end of the price band, it continues to be expensive and even punting in the share is likely to be dangerous to your portfolio. Avoid any investment, as there is more downside yet to come.