PN Gadgil In Green: 192-Year-Old Jeweller's Shares Rocket By Over 7% After A Minor Slump

The IPO season brings with it a listing of new entities in the share market, expanding the ever-increasing realm of the equity market. This realm has now acquired a rich tapestry, with companies of all kinds and types, from an SME to a 192-year-old jeweller, all of whom have made their way into the world of bears and bulls.

The Quick Turnaround

Talking about the 192-year-old Maharashtrian jeweller, PN Gadgil Jewellers Ltd shares jumped in the intraday trade on Monday, September 23.

This came to pass after a period of decline in the last few trading sessions.

In fact, the company shares dipped by close to 5 per cent in the last 5 trading sessions; however, it also needs to be noted that it closed the week's trade in green.

Company Shares Rocket

In fact, it appears as though the company has started from where it left off on last Friday. The company shares made significant gains in the early half of the intraday trading session; the surge even rose to an 8 per cent gain. This, however, quickly tapered.

Despite a slight dip, the shares continued to trade with major gains. At the time of writing at 12:21 IST, PN Gadgil shares jumped by a mammoth 7.74 per cent or Rs 56.60, reaching the mark of Rs 788.00 per piece.

PN Gadgil Listing

The company got listed on the equity markets on September 17. PN Gadgil Jewellers' shares made their market debut at a 74 per cent premium. The jeweller was listed at a 72.92 per cent premium, amounting to Rs 834 on the BSE and Rs 830 on the NSE, over the issue price of Rs 480 on Tuesday.

In addition, prior to the offering, the company's shares were trading at a GMP of 63 per cent of the issue price.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing involves risks and potential volatility. Readers are advised to conduct their own research and consult a financial advisor before making investment decisions. The author and publisher are not responsible for any financial losses incurred by readers.