The stock which had made a flat listing at Rs 215 on NSE and BSE, today rallied 9 per cent to make a fresh high.
Stock Market News: Shares of Manoj Vaibhav Gems N Jewellers are rising on festival buzz. On Thursday, the stock was an uptrend ahead of Dhanteras and Diwali. The stock today made a fresh high of Rs 322.40. Manoj Vaibhav Gems N Jewellers are in focus every since its shares made listing on the National Stock Exchange and Bombay Stock Exchange in October month.
On Thursday, the stock traded higher as it ignored the weak market sentiments. The stock which had made a flat listing at Rs 215 on NSE and BSE, today rallied 9 per cent to make a fresh high.
The stock finally settled with nearly 5 per cent gains at Rs 312. The price band for the initial public offering (IPO) of Manoj Vaibhav Gems N Jewellers was set at Rs 204 to Rs 215 per equity share.
The stock is in focus ahead of Diwali amid buying by value investors ahead of Diwali. The market is expecting that the company will attract higher business volume on account of upcoming festivals.
Manoj Vaibhav Gems shares have rebounded from Rs 202 levels. It has delivered more than 50 per cent from the lows.