Newly Listed Firms on Dalal Street Witness Surge in Market Capitalization
At least five newly-listed firms on Dalal Street have seen their market capitalization exceed Rs 20,000 crore in the past year, benefiting from the ongoing rally in the domestic equity markets.
Dalal StreetMarket CapitalizationIredaSignature GlobalJyoti Cnc AutomationRr KabelCello WorldReal EstateAug 01, 2024
IREDA, a public sector company engaged in financing renewable sector financing, made its debut on Dalal Street on November 29, 2023. The company's market capitalization surged to Rs 70,567 crore on July 31, 2024, from the listing day m-cap of Rs 16,123 crore at the time of closing.\n\nReal estate developer Signature Global witnessed a 287% surge in its share price since listing. The company's market valuation soared to Rs 20,931 crore, compared to Rs 6,441 crore at the close on its listing date, September 27, 2023.
Jyoti CNC Automation, with a gain of 245%, is next on the list. The company made its debut on the domestic stock markets on January 16, 2024. The market valuation of Jyoti CNC Automation was at Rs 26,008 crore on July 31, 2024, against Rs 9850 crore at the close on its listing date.RR Kabel and Cello World also rallied 73% and 47%, respectively, till July 31, 2024, against their issue price. The market valuation of RR Kabel was at Rs 20,254 crore and Cello World was at Rs 20,970.
Frequently Asked Questions
What is the reason behind the surge in market capitalization of newly listed firms on Dalal Street?
The ongoing rally in the domestic equity markets is the main reason behind the surge in market capitalization of newly listed firms on Dalal Street.
Which company witnessed the highest rally in its share price since listing?
Indian Renewable Energy Development Agency (IREDA) witnessed a 720% rally in its share price since listing.
What is the market capitalization of IREDA as of July 31, 2024?
The market capitalization of IREDA as of July 31, 2024 is Rs 70,567 crore.
Which company reported a five-fold rise in net profit for the quarter ended June 2024?
Signature Global reported a five-fold rise in net profit for the quarter ended June 2024.
What is the target price of Cello World according to Mirae Asset Capital Markets?
Mirae Asset Capital Markets has a target price of Rs 1,139 for Cello World.
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