Shares of Bharat Coking Coal Ltd (BCCL) fell about 7% after a strong stock market debut, where the stock listed at a 97% premium over its IPO price.
The sharp fall came as investors booked profits following the big opening-day gains. The company’s IPO received strong demand, helping the stock open at high levels. Market experts say such a fall is common after a sharp listing rally.
They advise short-term investors to consider booking profits, while long-term investors may hold the stock based on the company’s business prospects and role in the coal sector.