Ami Organics and Vijaya Diagnostic: Strong Debuts on Markets

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Ami Organics and Vijaya Diagnostic: Strong Debuts on Markets

By Aditya Raghunath -- Two companies made their debuts on the stock markets today, and rewarded investors handsomely, one more than the other.

AMI Organics Ltd (NS: AMIO ) closed at Rs 934.5, 53% over its issue price of Rs 610 while Vijaya Diagnostic Centre Ltd (NS: VIJA ) closed at Rs 617, a 16% increase over its issue price of Rs 531.

Ami Organics was always expected to make a strong debut with a strong IPO subscription, strong numbers and good growth potential. The surprise was Vijaya Diagnostic, a south-Indian diagnostic change which was expected to have a flat listing considering high competition in the space, and a tepid response to its IPO subscription.

Ami Organics manufacture and market advanced pharmaceutical intermediates used for manufacturing APIs and NCEs in anti-retroviral, anti-inflammatory, antipsychotic, anti-cancer, anti-Parkinson, antidepressant, and anti-coagulant products.

Analysts have advised that investors who were allotted shares in the IPO should hold on their stocks with a medium-to-long term view.

Vijaya Diagnostic’s listing saw it list just 2% over its issue price but it moved up strongly during the day. It is the largest integrated diagnostic chain in southern India, offering pathology and radiology testing services. However, most of its services are concentrated in Telangana and Andhra Pradesh.

Analysts have advised investors who have been allotted shares in Vijaya to book partial profits.

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