Dharmaj Crop Guard creates a organization debut, states 12% better from issue price
Shares of agrochemical company Dharmaj Crop Guard made a company debut on Thursday, getting indexed at a top rate of over 12% consistent with cents from their difficulty charge at the inventory exchanges.
The scrip were given indexed at Rs 266.05 apiece at the National Stock Exchange (NSE), thereby registering a benefit of 12.26 in line with cent from its provide fee of Rs 237.00, at the same time as at the BSE, it opened at Rs 266.00, up 12.24 in line with cent from the difficulty fee.
The inventory in addition rose from its starting stages and touched an excess of Rs 278.ninety at the BSE and Rs 279.00 at the NSE for the duration of the primary ninety mins of trade.
At 11:30 am, the scrip became buying and selling at Rs 270.ninety at the BSE, up 14.30 in line with cent from the problem charge even as on NSE it became at Rs 270.95, up 14.32 in line with cent. The marketplace capitalisation stood at Rs 915.57 crore, information from the BSE showed.
Over 1.01 crore stocks of Dharmaj Crop Guard had been traded to date on NSE whilst round 7.30 lakh stocks have exchanged palms at the BSE statistics from the respective inventory change showed.
Gujarat-primarily based totally Dharmaj Crop Guard is engaged withinside the enterprise of manufacturing, distributing, and advertising of a huge variety of agrochemical formulations which includes pesticides fungicides herbicides plant increase regulator micro fertilizers and antibiotic to the enterprise-to-consumer (B2C) and enterprise-to-enterprise (B2B) customers.
Commenting on the list, Santosh Meena, Head of Research at Swastika Investmart, said, “Dharmaj debuted at the secondary marketplace with a benefit of round 15 in step with cent, that’s in keeping with marketplace expectations. However, the long-time period outlook stays positive, and the valuations are nonetheless reasonable, so buyers can maintain this stock, at the same time as individuals who carried out for list profits can hold a forestall lack of Rs 255.”