Diffusion Engineers Share Price: Shares of Diffusion Engineers Ltd on Friday were listed with a premium of over 15 per cent against the issue price of Rs 168 and soon touched the highest trading permissible limit for the day. The stock opened at Rs 188 with a jump of 11.90 per cent and later the stock rose 17.47 per cent to Rs 197.35 to hit the upper circuit limit on BSE Sensex.
At NSE's Nifty50 the stock listed at 15.17 per cent premium to Rs 193.50 in early trade. In a while, Diffusion Engineers shares jumped another 20.93 per cent to hit Rs 203.17 to hit the upper circuit. The company has a market cap of Rs 738.61 crore.
Diffusion Engineers IPO Details
Diffusion Engineers Ltd’s initial public offer was subscribed to 114.50 times on Monday, the last day of bidding. The offer price range for the share sale was Rs 159-168 per share. Diffusion Engineers is in the business of manufacturing welding consumables, wear plates and wear parts and heavy engineering machinery for key industries.
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Stock Market Recovery
Equity benchmark indices made a smart recovery during afternoon trading on Friday and were trading higher amid buying in IT stocks and firm trends in Asian markets. Recovering all the early lost ground, the BSE Sensex jumped 726.16 points to settle at 83,223.26 during afternoon trade. The NSE Nifty also rose 203.3 points to 25,453.40.
Infosys, JSW Steel, Tech Mahindra, Axis Bank, Tata Motors, State Bank of India, HCL Technologies and Tata Consultancy Services were among the top 30 gainers in the Sensex. Nestle, Mahindra & Mahindra, Bajaj Finance and Asian Paints were lagging.
In Asian markets, Seoul, Tokyo and Hong Kong traded in positive territory. Markets in mainland China are closed for the holiday. U.S. markets ended lower on Thursday. Foreign institutional investors offloaded equity worth Rs 15,243.27 crore on Thursday, according to exchange data.
(With Agencies Input)