Excellent listing of Utkarsh Small Finance Bank, investors got 60% profit on a weak market day

 


Today (July 21) there was a big bang listing even in the weak market.  Shares of Utkarsh Small Finance Bank got listed on BSE and NSE at about 60% premium.  After closing, the stock closed at Rs 47.94 against the issue price of Rs 25.


 It was listed on the stock exchange at Rs 40 in the morning.  The stock was listed on BSE at a price of Rs 39.95.  That is, the investor got a huge profit of Rs 15 per share on the listing itself.  On the listing day, investors made a hefty profit of Rs 22.94 per share.   The IPO was closed about 111 times on the last day.


 Market guru Anil Singhvi advised  on the listing of Utkarsh Small Finance Bank . He advised investors to  stay in the stock.  For this, he put a stoploss of Rs.37.  He said that the background of the promoter of the bank is very strong.  There is also a lot of growth opportunities for the bank.  Also the valuation is attractive.


Details :

 Utkarsh Small Finance Bank IPO


 IPO: July 12-14

 Price Band: Rs 23-25/share

 Lot Size: 600 Shares

 Minimum investment: Rs 15000

 Share allotment: July 19

 Listing: July 24

 Subscription: 110.77 times


 There has been a sensational listing of Utkarsh SFB even in a weak market.  There is pressure in the market due to sharp selling in IT stocks.  The Nifty IT index slipped by around 3.5%.  The reason for this was the results of Infosys, in which the management has reduced the guidance.  Due to this, the mood of the market including the IT sector deteriorated.

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