NSE lists, closes up 2% ₹22,569cr IPO boosts BSE turnover
The National Stock Exchange (NSE) hit the stock market with a bang on Thursday, closing its first day up 2% at ₹1,818 per share after raising a huge ₹22,569 crore in its IPO.
The excitement around NSE's listing didn't just stop there. It actually helped push Bombay Stock Exchange (BSE) turnover to an impressive ₹29,672 crore.
PL Capital eyes ₹1,950 NSE target
NSE trading alone made up nearly 32% of BSE's total turnover for the day, more than doubling what BSE saw just the day before.
Ratiraj Tibrewal, Director at Choice Capital Advisors, says big IPOs like this often see only small early gains since existing shareholders are looking to sell once lock-in restrictions expire.
Ratiraj Tibrewal, Director at Choice Capital Advisors, pointed out that NSE's high valuation limited quick profits, but PL Capital still expects steady growth ahead, with PL Capital eyeing a future price target of ₹1,950 for NSE shares.