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UPDATED: April 7, 2021 12:05 IST
Barbeque National Hospitality shares rose sharply on the stock market after a weak debut. (Photo: Twitter/@BarbequeNation)
Shares of Barbeque Nation Hospitality surged 20 per cent on the stock market after listing at a discount of 2 per cent on its issue price on Wednesday. This development came as a surprise to many investors and analysts as the shares of the company were trading weaker on the grey market a day before the listing.
The shares of the casual dining restaurant chain listed on the National Stock Exchange at Rs 489.85 a 2.03 per cent discount on its issue price of Rs 500. However, the stock surged 20 per cent to Rs 587.80 on the NSE at around 10:40 am. At least 53.14 lakh shares of the dining chain changed hands on the NSE.