By Admin 
- Upper circuit imposed after share listing of Waterways Leisure.
- Recovered around Rs 800 after listing at discount.
- The company will consider stock split on July 10.
Share Market News: Shares of Cordelia Cruises’ operating company Waterways Leisure Tourism are making waves in the market these days. After listing in the stock market, it managed to touch the upper circuit of 10% for two consecutive days.
In the information given in the exchange filing on Monday evening, the company said that the stock split will be considered in the board meeting to be held on Friday, July 10. Waterways Leisure Tourism is a new company entering the share market. Next Friday will be its 8th trading day. Within just four days of listing, shares of Waterways Leisure Tourism have touched the upper circuit of 10-10% for two consecutive days.
The company had brought IPO
Waterways Leisure Tourism had brought its IPO worth Rs 585 crore. Its issue price was Rs 808. However, due to weak demand, it was listed at Rs 681-690 on July 1 at a discount of about 15-16%. Immediately after the listing at a discount, there was rapid buying of its shares, due to which the shares hit upper circuits twice. At present, the stock is trading around Rs 800 after making a good recovery from its low levels.
Ongoing preparations for stock split
The company recently said that the company is considering stock split in the board meeting to be held on July 10. This further increased the interest of investors in shares. Stock split means dividing shares into small pieces. When the price of shares increases and retail investors are unable to buy them, companies do stock splits. Due to this, the number of shares in the market increases and the price of shares decreases in the same proportion, making it easier for small investors to buy them.
What bets can be placed?
If you want to take advantage of stock splits, you can bet with less money by adopting a strict stop-loss. Long term investors should avoid being hasty as this is a newly listed company. One can think of big investment in it only after its 1-2 quarter results, by then the shares will become stable and the valuation will also improve.
Disclaimer: (The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always take expert advice before investing money as an investor. ABPLive.com never advises anyone to invest money here.)
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