Gujarat Pipavav Port Limited (GPPL) listed on the BSE and NSE on Thursday the 9th of September. There was a listing ceremony held at the NSE. The share listed at Rs 56.25 on the BSE and Rs 56.10 on the NSE, a gain of over 21% over the issue price of Rs 46. The share made a high of Rs 58.40 on the BSE and Rs 58 respectively. The lows were Rs 51.90 and Rs 52 respectively.
| Exchange | Open | High | Low | Close | Net Change | % gain | Wt Avg | Volume | Delivery | Del % age |
| BSE | 56.25 | 58.40 | 51.90 | 54.05 | 8.05 | 17.50 | 54.41 | 57942636 | 14571036 | 25.15 |
| NSE | 56.10 | 58.00 | 52.00 | 54.05 | 8.05 | 17.50 | 54.47 | 109546200 | 32745354 | 29.89 |
| Total | 167488836 | 47316390 | 28.25 |
Trading volumes were extremely brisk in the morning and in the first ninety minutes of trade they were roughly 8.07 cr shares. In the remaining part of the day or in the next 300 minutes or five hours the traded volume more than doubled to 16.75 cr shares, indicating a slowing down of trading volume. All in all, it was a good day for the stock which saw a total traded volume of 16.748 cr shares or 1.36 times the IPO size of 12.26 cr shares. The delivery volume was 4.73 cr shares or 28.25% of the traded volume. On the basis of IPO size 38.59% was delivery volume. The weighted average was Rs 54.4 indicating a substantial gain to investors. The closing price of Rs 54.05 was about 1% lower than the weighted average indicating that there was some selling pressure in the latter half of the day.
The Institutional sellers on day one included SBI Life which sold 21.9 lakh shares, SBI which sold 23 lakh shares and Credit Suisse (Singapore) which sold 16.25 lakh shares. On the buy side nothing substantive was visible.
The share has had a good listing and done well for itself on day one. There is not much clarity on future price looking at day one trend but my gut feeling says that the stock is likely to rise in the coming few days. Let us see what happens in the coming week when the broader indices are trading at 31 month’s high.
