Nuovo Vista seeing buying

Exactly a year ago, Nuovo Vista got listed at an over 17% discount to its IPO price of Rs.570 and today it is currently trading at Rs.342 levels.

Today, it is in news as it seems value buying has emerged on the counter.

Part of the Nirma group, formerly Lafarge India, it had raised Rs 1,500 crore from anchor investors ahead of its IPO. It also took over Emami’s cement plant in 2000, making it among the large cement makers of India.

SBI MF, SBI Life Insurance, IPru MF, Nippon MF, Axis MF, HDFC Life, Mirae MF, Franklin Templeton MF, Premji Invest and SBI Pension Fund. Foreign portfolio investors such as APG AM, CI Funds, TT International, Carmignac and Wells Capital among others had participated in the anchor book.