Stock closes up almost 9%
Oberoi Realty Limited listed on the BSE and NSE. The opening price on the BSE was Rs 280 and on the NSE was Rs 271.10. The high was an identical Rs 299 on both exchanges and was made in the first hour. The low was Rs 269.80 on the BSE and the open of Rs 271.10 on the NSE.
| Exchange | Open | High | Low | Close | Net Change | % gain | Wt Avg | Volume | Delivery | Del % age |
| BSE | 280.00 | 299.00 | 269.80 | 282.95 | 22.95 | 8.83 | 288.05 | 24223492 | 4633785 | 19.13 |
| NSE | 271.10 | 299.00 | 271.10 | 282.90 | 22.90 | 8.81 | 288.31 | 41372574 | 10182879 | 24.61 |
| Total | 65596066 | 14816664 | 22.59 | |||||||
The share had by and large a great start and after making the top in the first hour, the stock gradually slipped. This fall was probably to do with the weakness in the market which kept on moving between plus and minus and the BSESENSEX finally closed in the red with a loss of 111 points. The combined traded volume on the two exchanges was 655.96 lakh shares which is a healthy 1.66 times the IPO size of 395.62 lakhs. The delivery volume was 148.16 lakh shares which was 22.59% of the traded volume and 37.45% of the IPO size.
On the institutional front, Morgan Stanley was a buyer and a small seller as well. They bought 20.69 lakh shares and sold 3.58 lakh shares, being a net buyer of 17.11 lakh shares. The weighted average of the stock was 288.31 which was a gain of Rs 28 or 10.89%. The last hour selling brought down the price and the close was Rs 282.95, a gain of Rs 23 or 8.83%.
Readers would recall that the issue was very well received by QIB’s and they had subscribed the issue 22.15 times while the HNI portion was subscribed 3.61 times and the retail portion just about subscribed at 0.94 times. The overall subscription was 12.13 times.
If an application was made for the full amount of 375 shares in the retail category, the applicant got full allotment and assuming he sold at the weighted average price of Rs 288, his profit for an investment of Rs 97,500 for a period of a mere 8 days would be Rs 10,500 or a very healthy 10.8%. These kinds of returns are excellent returns.
Oberoi Realty Limited made a great debut on the bourses and finished with a net gain of just about 9%. With institutional interest being there, and markets likely to recover, there could be upside witnessed today.
