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Dharmaj Crop Guard IPO Listing Date, Price, Review: Shares of agrochemical firm Dharmaj Crop Guard made a firm debut on Thursday, getting listed at a premium of over 12 per cent from their issue price on the stock exchanges.
The scrip got listed at Rs 266.05 apiece on the National Stock Exchange (NSE), thereby registering a gain of 12.26 per cent from its offer price of Rs 237.00, while on the BSE, it opened at Rs 266.00, up 12.24 per cent from the issue price.
The stock further rose from its opening levels and touched a high of Rs 278.90 on the BSE and Rs 279.00 on the NSE during the first 90 minutes of trade.
At 11:30 am, the scrip was trading at Rs 270.90 on the BSE, up 14.30 per cent from the issue price while on NSE it was at Rs 270.95, up 14.32 per cent. The market capitalisation stood at Rs 915.57 crore, data from the BSE showed.
Over 1.01 crore shares of Dharmaj Crop Guard were traded so far on NSE while around 7.30 lakh shares have exchanged hands on the BSE, data from the respective stock exchange showed.
Gujarat-based Dharmaj Crop Guard is engaged in the business of manufacturing, distributing, and marketing of a wide range of agrochemical formulations such as insecticides, fungicides, herbicides, plant growth regulator, micro fertilizers and antibiotic to the business-to-consumer (B2C) and business-to-business (B2B) customers.
Commenting on the listing, Santosh Meena, Head of Research at Swastika Investmart, said, “Dharmaj debuted on the secondary market with a gain of around 15 per cent, which is in line with market expectations. However, the long-term outlook remains positive, and the valuations are still reasonable, so investors can continue to hold this stock, while those who applied for listing gains can maintain a stop loss of Rs 255.”
