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Tuesday, October 4, 2011

Prakash Constrowell IPO -decent returns despite meek listing

Prakash Constrowell IPO shares got listed today.
Company’s stock opened at Rs. 147.2 against the issue price of Rs 138 and then gradually soared to Rs.156 and by the time of this post, stock was trading at Rs. 157.5.
At the issue price of Rs. 138 stock had price to earnings multiple of 23, it shall be interesting to see how long this stock shall manage to trade at the P/E of 25, that too during high interest regime and concerns about Indian GDP growth rate.

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