Page 5 - Gov Technologies News Today

Soon after debut, the stock rose 4% to Rs 823 on BSE

Foreign institutional investors sold shares worth Rs 261.81 crore, while domestic institutional investors bought Rs 822.64 crore worth of stocks on November 10, provisional data from the National Stock Exchange showed.

Nifty futures on the NSE International Exchange traded 13 points, or 0.07 per cent, higher at 19,553.50, hinting at a flattish start for the domestic market on Monday.

Analysts said the upside from current levels looks limited based on valuation as the issue was fully priced in discounting all near-term triggers. "Given that the company is a pioneer and market leader in its universe of e-Governance, there can be some kind of first mover advantage, but the upside is limited post listing" said Prashant Tapse of Mehta Equities.

Protean eGov IPO listing: Despite the flat debut, the company's shares rebounded by surging over 2 per cent and trading at approximately Rs 813 around 10:35 am.

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Protean eGov Technologies IPO Listing: Shares witness a flat listing on the BSE at 792 per share as compared with the issue price of Rs 792 per share, shares later rise over 3%

Protean eGov Technologies stock opened at the IPO price of Rs 792 on BSE but later jumped 5% to Rs 831.8

The stock listed at Rs 792, which is the same as issue price. However, there was some buying interest in the counter post the listing as stock rose about 12% intraday.