Shares of Anand Rathi Shares and Stock Brokers Ltd. are on a 10-day winning streak following a muted stock market debut. Throughout the month of November, the stock has increased in every trading session.
The stock has risen from levels of ₹508 on October 31 to ₹769 as of Monday’s closing due to this ten-day winning streak. The stock is up 85% from its IPO price of ₹414 as a result of this 10-day rally.
Over 10 lakh shares have been exchanged for Anand Rathi Shares and Stock Brokers in each of the last nine sessions. 40 lakh shares were traded on Monday, more than twice as many as the 20-day average of 16.4 lakh shares.
8.4 lakh of the 40 lakh shares that were traded were marked for delivery, which is also more than the 20-day average of 4.8 lakh shares.
In contrast to the 42% average of the sessions before that 10-day run, the average delivery volume throughout this winning run has decreased to 28.6% of all shares traded.
The company’s response to the exchanges’ request for clarity regarding its price movement is still pending.
In contrast to its initial public offering (IPO) price of ₹414, Anand Rathi Shares and Stock Brokers had a quiet debut on the bourses, listing for ₹432 per share. However, only 11 of the 32 sessions in which it has traded on the markets have seen a drop in the stock.
The stock is not yet being covered by any analysts.
Anand Rathi Shares and Stock Brokers’ shares finished Monday at ₹768.5, up 4.8%.
