A total of 126,849 shares changed hands on the counter till 02:02PM (IST)
The stock quoted a 52-week high price of Rs 141.75 and a 52-week low of Rs 83.2.
The company is commanding a premium of Rs 55-60 per share or 5 per cent over its issue price in the grey market.
Amongst all the new age companies that are going for IPOs, so far the only company that has built a sustainable business and can generate sustainable cash flows is Nykaa, points out Hiren Ved
Marwadi Shares and Finance said that considering the FY-21 adjusted EPS of Rs 4.60 on post-issue basis, the company is going to list at a P/E of 42.83 with a market cap of Rs 3,896.3 crore while its peer namely Happiest Minds is trading at a P/E of 112.85.
"Investors bought shares whose prices proven undervalued relative to their latest outlook. We have been seeing a clear contrast in stock prices between those with strong earnings and those without," said Ikuo Mitsui, fund manager at Aizawa Securities.
Australian financials were down 0.9%, with all major banks clocking losses between 0.1% and 1.6%.
The CSI300 Real Estate index, which tracks blue-chip property shares, surged 9% in its best day in nearly seven years. A broader property index jumped 6.8%.
Promoters held 0.0 per cent stake in the company as of 30-Sep-2021, while FII and DII ownership stood at 16.48 per cent and 5.25 per cent, respectively.
The US Fed could increase the quantum of its bond tapering in the meantime as a signal to the market that it is serious about dealing with price increases.
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