Thursday, November 6, 2008

Alkali Metals IPO Stocks listed at 68% premium

Alkali Metals IPO Stocks today on its listing day closed at the premium of around 68%. The Initial Public offer (IPO) was struggled for its subscription around a month back and company was forced to reduce its IPO Stock price band along with extended issue closing date.

Alkali stock closed today at Rs 173/-, around 68% premium of public issue's price of Rs 103/-. The stock was open at Rs 90/- and then keep rising up to Rs 179/- before closing at Rs 173/-.

Not sure if Alkali could sustain this price at current market situation. IPO investors are highly recommended to sell and book the profits if they haven't done it yet.