Barak Vally Cements IPO Listing closes today with 33% Premium

Barak Vally Cements IPO Listing today has returned investors 33% returns. Issue has listed today at Rs. 62.60 on the NSE as against the issue price of Rs. 42 and later the stock slipped to close at Rs. 55.30 on the NSE. Barak Valley Cements, stock has hit an intra-day high of Rs. 67 and low of Rs.42. Barak Vally Cements is a cement manufacturer in the north-east region and the management speaking at the listing has said that the company eyes FY08 revenues at Rs 150 crore, Profit after tax around Rs 28-30 crore, EPS at Rs 12. Cement capacity is seen at 1,050 tonne/day in 2008. The company’s biomass project is likely to go onstream by December.