Indian stock markets witnesses a bundle of IPOs (Initial Public Offerings) in a respective financial year out of which several listings manage to attract investors while many of them fail at sharemarket debut. In the last financial year, 2017-2018, more than Rs 80,000 crore was raised from the IPOs with companies such as GIC floating India’s second-largest public offering and the IPO of Salasar Techno Engineering being subscribed as much as 270 times. Other than GIC, insurers such as ICICI Lombard General Insurance, SBI Life Insurance, HDFC Standard Life Insurance and The New India Assurance Company raised between Rs 5,700 crore to Rs 10,000 crore.
We take a look at a mid-cap share that has returned 300% in its 7 years of IPO. Interestingly, this mid-cap share is available for below Rs 50.
Shares of packaged goods manufacturer Future Consumer have risen exactly 300% from the issue price during the IPO in the span of little over 7 years. Future Consumer fixed the IPO price band at Rs 10-11 and launched its public offering in April 2011 while the company got listed in May 2011. The stock of Future Consumer has surged 300% to Rs 44.1 from the upper end of the issue price of Rs 11 in 7 years of stock market trading. Today itself, Future Consumer shares 6.12% to a day’s high of Rs 46.8 on BSE.
The domestic brokerage Motilal Oswal Securities has given a ‘buy’ rating to the stock of Future Consumer with an upside of 56% to a target price of Rs 69. Earlier yesterday, Future Consumer shares closed at Rs 44.1 on National Stock Exchange. Notably, Future Consumer share hit a 52-week high, also an all-time high, at Rs 79.45 on 27 December 2018 while it touched a 52-week low at Rs 40 on 17 July 2018.
Disclaimer: Views and recommendations given in this section are the brokerage firms’ own and do not represent those of http://www.financialexpress.com. Please consult your financial adviser before taking any position in the stock/s mentioned.
