No fireworks for L&T Infotech debut
By
Research Desk
about 9 years ago
After the blockbuster debut of Mahanagar Gas Nigam and then Quess Corp, one had started expecting a similar performance from L&T Infotech listing today. But its debut was pretty lackluster.
As against the IPO price of Rs.710, the stock opened on the BSE at Rs.666.60 but since then has recouped and even went up to the issue price of Rs.710. It currently remains below the IPO price thus no fireworks and premium opening for this pedigreed stock.
IPO had attracted more than one million applications, the highest for any share sale offer in at least five years.
Advice from our Editor Mr.SP Tulsian is to stay invested, at least for the next three months for sure.