Just a day after listing, Dodla Dairy and KIMS Hospital shares decline - HERE IS WHY

Amid profit-booking, the newly listed companies — Dodla Dairy and Krishna Institute of Medical Sciences (KIMS) Hospital decline by over four and three per cent to Rs 582 and Rs 962 per share on the BSE intraday trade on Tuesday. 

Both the stocks ended negative, Dodla Dairy closed near four per cent lower to Rs 585.5 per share, while KIMS Hospital by over two and a half per cent to Rs 970.3 per share on the BSE today. 

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Dodla Dairy surged over 33 per cent to Rs 573.10 per share on BSE and Rs 572.55 per share on NSE, while KMIS Hospital jumped over 25 per cent to Rs 1034.75 apiece on BSE and 1036.20 a share on NSE during listing on Monday.   

Both the company’s initial public offering was opened between 16 to 18 June, wherein Dodla was subscribed over 46 times, while KIMS marginally at 4 times.    

The issue size for Dodla Dairy was at Rs 510.18 crore with a price range of Rs 421-428 per share, while for KIMS Hospital it was Rs 2143.74 crore and a price range of Rs 815-825 per share. 

Zee Business Managing Editor Anil Singhvi’s prediction was in line with Dodla Dairy’s listing, while it was near in line for KIMS Hospital.  

Ahead of listings, Singhvi had said that the former would list with a big range at Rs 475-525 per share and the latter would see a marginal upside growth of 10-15 per cent to Rs 925-950 apiece on debut. 

The market guru had recommended to Buy both the issue at dip and hold for a long-term view, as he has been reiterating it since the launch of the IPO of both the companies.