NEW DELHI, April 16 -- Shares of Barbeque Nation Hospitality Ltd were locked at the upper end of the circuit filter for the second day in a row on the National Stock Exchange (NSE). Compared to its initial public offering (IPO) price of '500, the stock is now trading at a 41% premium.
This is surprising, to say the least, considering analysts were expecting the shares to have a weak listing owing to the second covid-19 wave.
The bulk deals data released on Wednesday, 7 April, the stock's listing day, showed that UTI Mutual Fund acquired 250,942 shares in the company for a price of '579.62 per share.
But investors shouldn't get carried away by one domestic institutional investor picking up shares in the company. It should be noted that an...