Market | Texmo Pipes surges 52% in debut session

Market | Texmo Pipes surges 52% in debut session

Mumbai: Texmo Pipes and Products Ltd, an Indian maker of plastic pipes, posted the third best debut performance of 15 Indian companies who listed shares this year.

The stock gained Rs47.15, or 52.4%, to Rs137.15 in Mumbai. The company sold shares at Rs90 apiece last month after getting demand for 7.48 times the 5 million shares on offer. Texmo’s debut performance is the third best this year after ARSS Infrastructure Ltd and Jubilant Food Works Ltd.

Sale of Fidelity, Citi stakes in MCX approved

Mumbai: India approved the sale of a 4.8% stake in the Multi Commodity Exchange of India Ltd by Citigroup Inc., the commodity market regulator said in a statement. Citigroup Strategic Holdings Mauritius Ltd sold the stake to Agynix Enterprises Ltd, the regulator said.

It also approved a plan by Fid Funds (Mauritius) Ltd, a unit of Fidelity International Ltd, to sell 2.03% to Passport India Investments (Mauritius) Ltd.

— Bloomberg