India's Jyoti CNC Automation jumps in debut trade

Jyoti CNC Automation

16/01/2024 08:38

** Shares of machine tool maker Jyoti CNC Automation
 JYCA.NS  surge as much as 30.5% to 431.80 rupees in trading
debut vs initial public offering (IPO) price of 331 rupees
    ** At day's high so far, JYCA valued at 98.20 billion rupees
($1.18 billion); stock debuted at 370 rupees
    ** IPO oversubscribed 38.53 times last week, fetching bids
worth 223.69 bln rupees - exchange data
    ** Co posted profit of 150.6 mln rupees for year ended March
31 vs loss of 483 mln rupees year ago; revenue from operations
climbed 24.5%

($1 = 82.9325 Indian rupees)

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))