Shares of Precision Camshaft Limited listed on the BSE and NSE and had a poor showing. The company had through a simultaneous fresh issue for Rs 240 crs and an offer for sale of 91.5 lac shares in a price band of Rs 180-186 raised Rs 410 crs. The markets were bad and though that could be a reason for the decline, very clearly there was no desire to make fresh commitments.
The discovered price on BSE was Rs 161 and on NSE Rs 165. The lows on the two exchanges were Rs155 and 154.50 respectively while the highs were Rs 184.70 and Rs 185. The share closed at Rs 177.25 which was higher than the weighted average of Rs 176.14 on the BSE and Rs 177.45 on the NSE where the weighted average was 176.19.
There was one HNI delivery trade where Anvil Fintrade sold 5 lac shares at a loss. The selling price was Rs 174.11.
The delivery percentage was very poor at 19.29% on the BSE and 20.81% on the NSE indicating that at these levels people/investors do not want to sell out. The share was under pressure no doubt and looking at the market is likely to see more pressure in the coming days. Considering the fact that about 19% of the non-anchor shares have been delivered on day one, it is likely that it will take time for the share price to stabilize.
| Exchange | Open | High | Low | Close | Net Change | % Gain/loss | Wt. Avg | Volume | Delivery | Del %age |
| BSE | 161.00 | 184.70 | 155.00 | 177.25 | -8.75 | -4.70 | 176.14 | 3078634 | 593902 | 19.29 |
| NSE | 165.00 | 185.00 | 154.50 | 177.45 | -8.55 | -4.60 | 176.19 | 11220947 | 2334916 | 20.81 |
| Total | 14299581 | 2928818 | 20.48 |
All in all a poor listing and the issue of remuneration to the CMD had a telling effect on the share. While he did try to inform investors that going forward it would be as per companies act, the damage was done.
