Friday, September 30, 2016

ICICI Prudential Life Bounced Back after Listing Day

It was not a great listing for a big IPOs like ICICI Prudential Life. As per current IPOs L&T Infotech and L&T Technologies not able to give good returns to their investors but all eye was on ICICI Pru Life. It was a discount listing of Rs.5 but it was stable around IPO price on its listing day. It was a sudden fall in Indian stock markets as Indo-Pak war news was on. Sensex fall around 550 points and Nifty around 180 points and it was a time when ICICI fall from 325 to 300. The stock was not able to come back as market was playing from up and down.

ICICI Prudential Life has good results over the years and they will surely continue to have another great in next few quarters. It was not a good day to list for an IPO like ICICI but no one knows what will happen. The IPO has not able to recorver on listing day but today 1 day after listing it was came back 4%. It was open in green and then make a 52 week low but at close it was superb with huge volume.

30-09-2016, Friday: ICICI Pru Life stock price

BSE Price: (Up 4.18%)
Previous Close: 297.65
Open: 297.70
High: 312.50
Low: 293.05 (52 Week)
Close: 310.10
Volume: 2306009

NSE Price: (Up 4.27%)
Previous Close: 297.55
Open: 297.40
High: 312.40
Low: 293.05 (52 Week)
Close: 310.25
Volume: 12029298

One can expect some zoom in ICICI Prudential Life stock as its in good trading range. The IPO price was fair enough and subscribed heavily in QIB and HNI levels. Retail portion was not good enough but the big IPO need big money.