Monte Carlo Fashions lists at 9.46% discount at open
Source: IRIS | 19 Dec, 2014, 10.23AM
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| Rating: NAN / 5 stars. |
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Monte Carlo Fashions, the leading apparel brand in India, listed on the stock exchanges today with discount to the issue price. Shares of the company opened at Rs 584 a share, down 9.46% from issue price of Rs 645 a share on the National Stock Exchange (NSE). Currently, the shares are trading at Rs 597.70, down 7.33% from issue price of Rs 645. It recorded a high of 603.90 and a low of 530 at the NSE. Hem Securities said, ''Monte Carlo' has been recognized as a 'Superbrand' for woollen knitted apparel. Considering strong brand image, vast distribution network and firm fundamentals; the issue looks attractively priced. Hence we recommend investor to subscribe the issue.''
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