New Delhi, Feb. 17 -- Ajax Engineering's share price had a weak market debut on Monday, February 17, as the stock was listed at Rs.575 per share on the NSE, an 8.43% discount to the IPO price of Rs.629. On the BSE, it was listed at Rs.593 per share, reflecting a 5.7% discount to the issue price.

Following the poor listing, the stock declined further, falling another 2% from the listing price to Rs.566 per share. In light of the weak debut, Prashanth Tapse, Senior VP (Research) at Mehta Equities, advised investors who received allotments to hold the stock, citing the company's growth prospects in the construction and infrastructure sectors.

Prashanth Tapse stated that the listing was well below street estimates of a flat debut, given the...