ESDS Touches Upper Circuit For The Fourth Consecutive Trading Session, Stock Skyrockets 3.3X IPO Price

by · Inc42

SUMMARY

  • Stock of ESDS Software Solution hit an upper circuit of 10% for the fourth consecutive session today, taking the stock to more than three times its IPO issue price
  • The shares subsequently hit their 20% upper circuits at ₹908.40 on the NSE and ₹895.55 on the BSE on the listing day and have remained locked at upper circuit limits since then
  • The stock is locked at a 10% upper circuit of ₹1,418.50 on the BSE today (September 9), with market capitalisation to ₹16,626.38 Cr ($1.75 Bn)
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Riding the bulls since listing last Friday, stock of enterprise cloud and AI company ESDS Software Solution hit an upper circuit of 10% for the fourth consecutive session today, taking the stock to more than three times its IPO issue price. 

The stock is locked at a 10% upper circuit of ₹1,418.50 on the BSE today (September 9), with market capitalisation to ₹16,626.38 Cr ($1.75 Bn). On the NSE, the stock was locked at ₹1,438.85 as of 15:07 IST.

At these levels, ESDS’ shares are trading 3.3X above its IPO issue price of ₹429 apiece on the BSE. This is also a 90% jump from its listing price of ₹746.30.

ESDS made its stock market debut on September 4, listing at ₹757 on the NSE, a premium of 76.5% over its issue price. On the BSE, the stock debuted at ₹746.30, a premium of nearly 74%. 

The shares subsequently hit their 20% upper circuits at ₹908.40 on the NSE and ₹895.55 on the BSE on the listing day and have remained locked at upper circuit limits since then.