Equity Alert: First Winner Industries down 33% from issue price

[K.Karthik Raja]

Equity Alert: First Winner Industries down 33% from issue price
MUMBAI--11:20AM--Fabrics manufacturer First Winner Industries was
trading
at 84 rupees or 33% lower than its issue price of 125 rupees. The
stock listed
at 110 rupees on NSE.
So far, the stock has touched a high of 129.90 rupees, and a low
of 81
rupees.
Analysts said there was no interest in the textile sector, and the
stock
was not cheap when compared to its listed peers.
Sentiment for the company has been weak as the original price band
of
120-130 rupees a share was lowered to 115-125 rupees after the initial
public
offer met with a poor response. The issue was subscribed 1.26 times.
So far, 3.2 mln shares of the company have been traded on NSE.
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