M&B Engineering shares jump 27% from IPO price, Laxmi India Finance up 8% - Here's what investors should do

Shares of M&B Engineering have rallied nearly 27 percent since listing on Wednesday, as investors continued to accumulate the stock.

The company’s shares made a flat debut on August 6, opening at Rs 386 on the BSE against the issue price of Rs 385. They touched an intraday high of Rs 418.85 before closing at Rs 409.15, up 6.27 percent. On the NSE, the stock opened at par with the issue price, hit a high of Rs 418.80, and settled at Rs 405.25, a gain of 5.26 percent.

On debut day, the company’s market capitalisation stood at Rs 2,338.22 crore on the BSE. As of Friday, it had risen to Rs 2,754.54 crore.

In August 8 trade, the stock surged as much as 17 percent to Rs 488.90 on the NSE, marking a 26.99 percent rise from the IPO price.

Trading volumes were strong, with over 1.26 crore shares changing hands on the NSE and 12.51 lakh shares on the BSE by 1:10 pm.

Bhavik Joshi, Business Head at INVasset PMS, said India’s pre-engineered building market is set for further growth on the back of manufacturing, warehousing and clean energy capex. “MBEL’s capex plans from IPO proceeds aim to strengthen this readiness. For investors seeking exposure to the underlying build-out of India’s next industrial wave, MBEL offers a credible platform. However, prudent allocation is advisable given the valuation, reliance on continued project flow, and historical volatility in execution-heavy sectors,” he said.

Meanwhile, shares of National Securities Depository Ltd (NSDL) extended their gains for the third straight session since debut, rising nearly 19 percent on August 8. The stock is now more than 68 percent above its IPO price. NSDL had listed on August 6 at Rs 880, a 10 percent premium over the issue price, below grey market expectations.

NSDL rally continues: Shares surge 19% on Day 3, extend post-listing gains to 52%; m-cap rises to Rs 26,000 cr

Shares of Laxmi India Finance rose over 15 percent on Friday to an intraday high of Rs 171.60, taking their gains to nearly 8 percent over the IPO price.

The NBFC had listed on August 5 at Rs 136 on the BSE, a discount of 13.92 percent to the issue price of Rs 158, before trimming losses in subsequent trade. On the NSE, it opened at Rs 137.52, down 12.96 percent, before recovering to Rs 140.40.Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.