Performance of Newly Listed Shares as on 8th January 2016

Name Date of listing Issue Price closing price closing price % gain loss change over
8th January 1st January Over week lssue price
Sadbhav Infrastructure Project Limited 16th September 103.00 93.30 97.75 -4.32 -9.42
Prabhat Dairy Limited 21st September 115.00 137.30 143.00 -4.96 19.39
Coffee Day Enterprises Limited 2nd November 328.00 273.10 288.00 -4.54 -16.74
Interglobe Aviation Limited 10th November 765.00 1272.75 1341.75 -9.02 66.37
S H Kelkar & Company Limited 16th November 180.00 258.60 249.00 5.33 43.67
Alkem Laboratories Limited 23rd December 1050.00 1476.25 1498.75 -2.14 40.60
Dr Lal Pathlabs Limited 23rd December 550.00 806.75 803.25 0.64 46.68
Narayana Hrudayalaya 6th January 250.00 326.55 N A 30.62 30.62

Narayana Hrudayalaya –Off to a flying start – Share gains 34% on debut

Shares of Naryana Hrudayalaya Limited (NH) listed on the BSE and NSE yesterday and were off to a flying start. The company had through a secondary offering sold 245.23 lac shares in price band of Rs 245-250. The anchor book was well received and 73.56 lac shares were allotted at the top end of the band. The issue was subscribed 8.70 times with QIB portion subscribed 24.43 times, HNI 3.62 times and Retail portion 1.89 times.

Exchange  Open  High Low Close Net Change % Gain/loss Wt. Avg Volume Delivery  Del %age
BSE 294.00 344.20 291.00 336.70 86.70 34.68 322.14 8951359 2078822 23.22
NSE 291.00 345.65 291.00 336.95 86.95 34.78 322.05 41383689 9031890 21.82
Total 50335048 11110712 22.07

The price discovery was Rs 291 and this happened to be the low of the day. Between 10am and 10.30 am a huge volume of 143.75 lac shares on the NSE and 31.09 lac shares on the BSE were traded. This amounts to a total of 174.84 lac shares or 71% of the IPO size of 245.23 lac shares. Clearly it appears that people went short during this time and were forced to cover as well as the price continued to rise. The total volume at the end of the day was a staggering 503.35 lacs or 2.05 times the IPO size. The delivery volume was significant and quite high at 111.10 lacs or 22.07% of the traded volume. The percentage of delivery when compared to the issue size is 45.31% and when compared to the issue size minus the anchor allocation which has a 30 day lock-in, it’s a staggering 64.72%. This means that the entire retail and HNI portion plus some from QIB have sold. Looks unlikely as no names on either the buying side or the selling side have appeared in bulk trades reported on the BSE and NSE.

The weighted average for the day was 322.14 on the BSE and Rs 322.05 on the NSE. The share closed at Rs 336.70 on the BSE, a gain of Rs 86.70 or 34.68%. On the NSE the closing price was Rs 336.95, a gain of Rs 86.85 or 34.78%.

An excellent listing no doubt but the true test for the share would be post Friday when the auction for short shares on listing day is concluded. The way the share moves on Monday the 11th of January would determine future trends of NH.

Performance of Indices and Sensex in 2015

The calendar year 2015 has come to an end and has not been a good one for the markets. The benchmark indices BSESENSEX and NIFTY have both been negative for the year. While the BSESENSEX lost 5.03%, NIFTY lost 4.06%. The performance of the constituents of the two indices was also a mixed bag.

31-Dec-15 31-Dec-14 Change pts Change %
BSE CON DURBLE 11997.51 9673.67 2323.84 24.02
BSE HEALTHCARE 16905.20 14692.95 2212.25 15.06
BSEMIDCAP 11143.08 10372.58 770.50 7.43
BSESMALLCAP 11836.71 11087.07 749.64 6.76
BSE IT 11061.31 10583.98 477.33 4.51
BSE TECK 6052.92 5841.82 211.10 3.61
BSE FMCG 7871.83 7766.57 105.26 1.36
BSE AUTO 18519.08 18630.84 -111.76 -0.60
BSE500 10634.22 10721.62 -87.40 -0.82
BSE200 3377.51 3428.09 -50.58 -1.48
BSE100 8097.57 8369.27 -271.70 -3.25
BSE OIL GAS 9555.61 9895.21 -339.60 -3.43
NIFTY 7946.35 8282.70 -336.35 -4.06
SENSEX 26117.54 27499.42 -1381.88 -5.03
BSE POWER 1957.68 2092.51 -134.83 -6.44
BSE CAP GOODS 14128.32 15442.24 -1313.92 -8.51
BSE BANKEX 19328.74 21458.11 -2129.37 -9.92
BSE REALTY 1344.33 1555.07 -210.74 -13.55
BSE PSU 6813.67 8226.81 -1413.14 -17.18
BSE METAL 7397.96 10752.69 -3354.73 -31.20

From the above table one can see that of the 18 indices from the BSE, seven were positive while 11 were negative. Of the 11 which were negative 5 outperformed the SENSEX while 6 underperformed. The best performing of the indices was BSECONSUMER DURABLE which rose 24.02% followed by BSEHEALTHCARE 15.06%. On the reverse side the worst performers were BSEMETAL down 31.2% followed by BSEPSU 17.18%.

What is significant is that there were huge inflows from investors into mutual fund schemes which invested in midcap and smallcap stocks. They not only outperformed the benchmark which were negative, but registered net gains. The BSEMIDCAP gained 7.43% while BSESMALLCAP gained 6.76%.

In individual stocks forming part of the BSESENSEX, 13 stocks ended with gains for the year while 17 stocks were negative. Of the negative stocks, 4 performed better than the SENSEX. The top performing stocks were Maruti Suzuki up 38.66% followed by Lupin 28.71%. On the worst performers were PSU capital goods manufacturer down 36.18% followed by Tata Steel 35.01%.

31-Dec-15 31-Dec-14 Change Rs Change %
Maruti 4615.00 3328.30 1286.70 38.66
Lupin 1838.00 1428.00 410.00 28.71
Asian Paints 884.00 752.00 132.00 17.55
HDFC Bank 1083.00 952.00 131.00 13.76
Reliance Industries 1013.00 891.15 121.85 13.67
Hind Unilever 862.00 759.50 102.50 13.50
Infosys Tech 1105.00 985.00 120.00 12.18
HDFC 1263.00 1135.00 128.00 11.28
Bajaj Auto 2533.50 2438.45 95.05 3.90
Cipla 649.50 625.80 23.70 3.79
Mah & Mah 1272.00 1234.50 37.50 3.04
NTPC 145.90 144.10 1.80 1.25
Wipro 559.80 553.80 6.00 1.08
Sun Pharma 820.00 826.15 -6.15 -0.74
Bharti Airtel 339.90 352.85 -12.95 -3.67
Dr Reddy’s 3103.00 3244.95 -141.95 -4.37
TCS 2439.20 2554.70 -115.50 -4.52
SENSEX 26117.54 27499.42 -1381.88 -5.03
Axis Bank 449.50 502.05 -52.55 -10.47
ITC 327.60 368.40 -40.80 -11.07
Hero Moto 2695.00 3103.40 -408.40 -13.16
Coal India 328.70 383.75 -55.05 -14.35
Larsen & Toubro 1276.00 1496.50 -220.50 -14.73
Gail 375.40 444.95 -69.55 -15.63
Adani Ports & SEZ 260.60 318.45 -57.85 -18.17
Tata Motors 391.25 491.13 -99.88 -20.34
ICICI Bank 261.45 353.00 -91.55 -25.93
State Bank 224.40 311.85 -87.45 -28.04
ONGC 241.90 341.20 -99.30 -29.10
Tata Steel 259.55 399.35 -139.80 -35.01
Bhel 169.25 265.20 -95.95 -36.18

The year has been a tough one and the current year is likely to be as tough if not worse.

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