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Thursday, July 28, 2011

Poor listing of Bharatiya Global Info ltd

As expected, Bharatiya Global Info ltd. made miserable listing on the bourses; this stock was listed almost at the issue price Rs. 82 and even could not hold this level and touched the lower level of Rs. 56.3.
By the time of writing this post, the stock was trading at Rs. 64.85, which was at 20.9 % discount to the issue price.
The issue was priced at very high valuations in comparison with its peers; fundamentals too were not encouraging.
This is why I had advised readers of this blog to stay away from this IPO in the IPO analysis report of  Bharatiya Global Info ltd.

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