National Securities Depository Limited (NSDL) shares continued their upward momentum on August 7, rallying nearly 7% in intraday trade and extending gains to around 13% since listing. The stock has now climbed approximately 25% above its IPO price, signaling strong investor interest despite a modest debut.
The listing excitement wasn’t limited to NSDL. Newly-listed Sri Lotus Developers also showed strong follow-up momentum, rising over 4% in its second trading session. In contrast, Laxmi India Finance shares dropped more than 3%, failing to maintain early listing enthusiasm.
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NSDL Sees Strong Second-Day Rally
The NSDL share price debuted at ₹880 on BSE on August 6, reflecting a 10% premium over its issue price. While this listing premium was slightly below the grey market expectations, the stock has quickly recovered, thanks to positive sentiment and the company’s solid fundamentals.
NSDL shares are now trading about 25% higher than the IPO price, with analysts suggesting long-term holding due to its market leadership in the depository space.
The upbeat investor confidence is seen as a response to NSDL’s proven track record and its crucial role in India’s capital markets infrastructure.
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Sri Lotus Continues to Shine Post Listing
Sri Lotus Developers also delivered a strong second-day performance, gaining more than 4% and extending its post-listening rally. The stock has attracted attention for its solid start and is emerging as another IPO that investors are watching closely.
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Laxmi India Finance Slips After Early Gains
However, it wasn’t a winning streak for all. Laxmi India Finance share price slipped over 3%, showing signs of profit booking or cautious investor sentiment. After an initial listing pop, the downward move indicates that some investors might be locking in early gains or waiting for more clarity on long-term prospects.
IPO Market Sees Mixed Reactions
The movement in these newly listed stocks reflects a mixed mood in the IPO space. While strong fundamentals and strategic market positioning are helping companies like NSDL and Sri Lotus maintain momentum, others like Laxmi India Finance are witnessing short-term corrections.
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