Cochin Shipyard, the largest public sector shipyard company, outperformed in a bad market on Friday as the stock closed at day's high.
The IPO, a fresh issue of 22.65 million shares, will fetch the company Rs978 crore at the upper end of the price band.
During the early morning trade, Cochin Shipyard shares opened 0.7% higher on the BSE at Rs 435 apiece compared to the issue price of Rs 432.
The Shipyard was set to receive Rs 978.74 crore through the fresh issue of shares, Financial Express reported.
India, the world's fifth-biggest defence spender a year ago, is expected to spend $250 billion over the next decade to modernise its armed forces, and Prime Minister Narendra Modi wants new deals to involve a share of local production to help the country grow its nascent defence industry.
Cochin Shipyard caters both government, including defence, and private sector clients in the commercial sector worldwide. In addition to shipbuilding and ship fix, it also offers marine engineering training.
"Going ahead, the kind of orders they get will be key, but expect the stock to do well in the short to medium term", he said.
The shipbuilder, which also repairs ships, had seen strong investor interest in the IPO with the sale last week being subscribed more than 76 times.
The Initial Public Offer (IPO) was oversubscribed 76 times, with the high net worth individual segment witnessing a subscription of over 288 times of the allotted component.
State-run Cochin Shipyard on Friday had an impressive debut on the bourses despite a slump in the markets.
The Censor Board, with its outlandish decisions about blocking films, has invited the ire of the film industry, consistently. Social media users did not leave a chance to tell Pahlaj Nihalani the difference between censoring and certification.
The firm owned 12,689 shares of the real estate investment trust's stock after selling 100 shares during the period. Mcf Ltd Limited Liability Company has invested 0% of its portfolio in Simon Property Group Inc (NYSE:SPG).
Trexquant Investment LP purchased a new stake in Advanced Micro Devices during the first quarter worth approximately $706,000. Chicago Equity Partners Llc increased Ebix Inc (NASDAQ:EBIX) stake by 5,940 shares to 23,395 valued at $1.34M in 2016Q4.
If the ban is imposed, it will violate the constitutional rights of five transgender women who are serving the army. But a defence official, speaking on the condition of anonymity, said doing so might be hard to defend in court.
The company reported $0.72 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.72. Marsili Daniel B sold $1.06 million worth of Colgate-Palmolive Company (NYSE:CL) on Thursday, June 15.
It dropped, as 46 investors sold EPD shares while 258 reduced holdings. 116 funds opened positions while 609 raised stakes. Ameriprise Financial Inc. increased its stake in shares of Enterprise Products Partners L.P.by 38.0% in the first quarter.
Cantor Fitzgerald reissued a "hold" rating and set a $2.00 price objective on shares of Novavax in a report on Friday, July 21st. Cullen Frost Bankers Inc decreased Gilead Sciences Inc Com (GILD) stake by 5.21% reported in 2016Q4 SEC filing. (NASDAQ:NVAX).
Medel joins Besiktas along with a huge wealth of other talent as the club look to continue their domination of Turkish football. The video reveals new signing Jeremain Lens calling a "middle man" in his attempts to bring Medel into the club.
And when asked this week whether it would difficult to hold onto their crown without more signings, he said: "Yes very hard". The lack of a credible plan B will hurt the teams chances when the going will get tough towards the end of the season.
This change led market cap to move at $1.03B, putting the price -8.06% below the 52-week high and 126.96% above the 52-week low. A trend analysis is a method of analysis that allows traders to foresee what will come about with a stock in upcoming days.
Jordan Henderson is also in the squad after sitting out the friendly against Athletic Bilbao in Dublin due to illness. Until now I don't have reason to change nothing ".
Alcohol Use And Abuse Spiking In US, Study Says
That said, they have some theories involving the number of women in the workforce, stress levels, and income inequality. For women the rise in AUDs is also significantly high - an 83.7% increase in AUDs over the 11 years says this study.
Dolphins believe rookie LB Raekwon McMillan has torn ACL
Running down the field during a Miami punt, McMillan collided with a teammate, bending his knee at an awkward angle. For the Dolphins sake, as they hope to go back-to-back with playoff berths, they're going to need him healthy.
Miffed NCP skips meeting called by Sonia
Sharad Yadav on Thursday declared in Patna that he was still with the Grand Alliance of the RJD and the Congress in Bihar. NCP on Friday alleged that Congress is spreading lies in spite the fact that NCP voted for Ahmed Patel, reports ANI.
Santee Cooper Cancels Rate Increases
It is important that we hold the line on costs, and Santee Cooper's talented and dedicated workforce will rise to the occasion". Summer expansion. "We will tighten our belts and continue to look for ways we can be more efficient to make up the balance.
Harry Potter Fans You Need To Know This
Primark have been smashing the themed collections in recent months, with Beauty And The Beast merchandise selling the fastest. If you're a diehard Harry Potter fan, or you just love a new set of PJs then you're guaranteed be totally obsessed.
Jimmy Kimmel's update on his newborn son's health
Despite the progress, Kimmel revealed that Billy will still have to undergo two more open heart surgeries. At that point, I knew there was nothing I could do. "I would love to talk to him about this", Kimmel said.