Nuvoco Vistas makes a weak market debut, lists at 17% discount

Shares of Nuvoco Vistas made a weak stock market debut after its initial public offering received a tepid response. However, the stock has recovered slightly after listing at a 17 per cent discount to its issue price of Rs 570.

Shares of Nuvoco Vistas, a leading cement maker, made a weak debut on the stock market on Monday at a 17.37 per cent discount to its issue price of Rs 570. The cement maker’s stock got listed at Rs 471 on the Bombay Stock Exchange (BSE) and at Rs 485 on the National Stock Exchange (NSE). However, the stock recovered its position on both the NSE and BSE by 12 pm.