Home / Markets / Stock Markets /  Delhivery, multibagger Venus Pipes among 7 newly listed stocks in focus as lock-in period expires this month

Share lock-ins set are set to unravel this week with Delhivery, Venus Pipes and Tubes, Syrma SGS Tech, Tarsons Products, Ethos Ltd, e Mudhra Ltd, and Go Fashion being the seven stocks with lock-ins period expiring this month i.e., between the period of November 21 to November 28, 2022.

Delhivery's share price breached its initial public offering (IPO) issue price of 487 per share since the Gurugram-based startup debuted on the stock exchange. In its quarterly business update to its shareholders, Delhivery shared concerns over “high levels of inflation, with average user spends and total active shoppers remaining flat or lower during the ongoing festive season".

Delhivery, the largest fully-integrated logistics services player in India, had raised 5,235 crore in its IPO in May. The issue was oversubscribed by subscribed 1.63 times.

However, Venus Pipes shares, which made their stock market debut in May this year, have outperformed. The newly listed stock has given multibagger return by rallying more than 110% in the last four months since its listing on the stock exchanges. The Gujarat-based company is a growing stainless-steel pipes and tubes manufacturer and exporter in India.

Other tech stocks- including Paytm, Zomato, Nykaa, PB Fintech–which went public last year, have also had a tough week so far on the stock market. The shares of most of these companies have fallen even as benchmark indices Nifty and Sensex gained.

Indian IPOs raised a record $18 billion in 2021 on government efforts to foster startups combined with easy-money policy and a surge in retail trading during the pandemic. But investors have since dumped high-profile tech shares, even as the broader Indian stock market has outperformed global peers and scaled new peaks.

Concerns over valuations and rising global rates have taken the biggest toll on new age stocks that include logistics firm Delhivery, Paytm, delivery startup Zomato, the owner of beauty e-retailer Nykaa, and the operator of online insurance marketplace Policybazaar.

India’s stocks have outperformed most global peers this year, with the benchmark S&P BSE Sensex up more than 4% compared with a loss of more than 20% in the MSCI World Index.

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