Home First, Heranba, Brookfield, Nureca hit lowest levels since debut

0
29
Home First, Heranba, Brookfield, Nureca hit lowest levels since debut
Advertisement

Shares of recently listed companies, Company, Heranba Industries, Brookfield India Real Estate Trust REIT and Nureca hit their respective lows since listing on the bourses. These stocks were down between 2 per cent and 8 per cent on the BSE in the intra-day trade on Monday. In comparison, the S&P BSE Sensex was down 1.7 per cent at 49,925 points at 02:04 pm.


Shares of agrochemicals company Heranba Industries, for instance, slipped 7 per cent to Rs 708 on the BSE. With today’s fall, the stock has declined 25 per cent from its listing day high of Rs 945 hit on March 5, 2021. The stock had made a strong debut at Rs 900, a 43.5 per cent premium against the issue price of Rs 627 per share.



That apart, Company skid 3.6 per cent to Rs 496.80, sliding below its issue price of Rs 518 per share. The housing finance company had made a tepid stock market debut on February 2. The stock had closed at Rs 527.40, up nearly 2 per cent from its issue price, after hitting high of Rs 639.50 in intra-day trade on listing day.


“In the medium to long-term, HFFC should be able to take advantage of strong underlying growth momentum in the affordable housing space. This, coupled with its own strong core operating metrics (2.5-3 per cent RoA) would help it lever up the current capital. While the pricing is a tad expensive at 3.4x 1HFY21 P/BV, we believe its strong metrics and high growth would lead to healthy EPS growth,” analysts at IIFL Securities had said in an note.


Further, shares of Brookfield India’s Real Estate Investment Trust (REIT) were down 2.5 per cent at Rs 235,10 on the BSE. The stock is currently trading 14.5 per cent below its issue price of Rs 275 per share. It, too, had made sombre debut on February 16, getting listed at par and hitting a high of Rs 280.05 on listing day.


is the third such trust to be listed in the country. Earlier, Embassy Office Parks REIT, backed by Blackstone and Embassy group, got listed in April 2019 after raising Rs 4,750 crore. Mindspace Business Parks REIT, owned by K Raheja and Blackstone, meanwhile, was listed in August last year and had raised Rs 4,500 crore.


Lastly, shares of Nureca slipped 8 per cent to Rs 560 in the intra-day trade today, dropping 26 per cent from its recent high of Rs 760 touched on March 2. The stock of the wellness product distributor saw a strong debut as its shares soared 67 per cent during their market debut on February 25. The stock had ended at Rs 667, up Rs 267, or 67 per cent, over issue price of Rs 400 per share. Nureca’s Rs 100-crore had seen more than 40 times oversubscription.

Home First, Heranba, Brookfield, Nureca hit lowest levels since debut Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link