After a brief listing-day pop, shares of the National Stock Exchange (NSE) have wiped out all gains and slipped below the IPO price, although analysts remain bullish on the stock.
NSE shares listed at Rs 1,800 apiece on the BSE on September 24, marking a premium of less than 1% over the IPO price of Rs 1,785. Within an hour of the muted debut, the shares jumped over 5% from the IPO price to hit a high of Rs 1,878, pushing the market capitalisation as high as Rs 4.64 lakh crore, before the stock began to decline.
