Shares of Nova Agritech Rally 12.5% Today; Here's Why

Shares of Nova Agritech Limited surged around 12.5 percent in Tuesday session today. The shares of the company with a market cap of Rs 603 crore were functioning at the level of Rs 67.50.

The 52 week high level of shares of Nova Agritech Limited is Rs 77.20 while the 52 week low level is Rs 55. Nova Agritech Limited is a company recently listed in the stock market, whose shares have given a return of 13.25 percent to the investors in the last one month. On Wednesday, January 31, the shares of Nova Agritech Limited were at the level of Rs 57.5, from where till the level of Rs 65.35, investors have got a return of more than 13 percent.

On January 31, the last day of last month, stock market investors made huge profits on the listing of Nova Agritech's IPO. Shares of Nova Agritech opened at the level of Rs 55 in the National Stock Exchange and opened at the level of Rs 56 in the Mumbai Stock Exchange. Nova Agritech had launched IPO at a price of Rs 41. The company has been listed at a bumper rise of 36.5 percent from the IPO price. Stock market experts expected that Nova Agritech shares could be listed at a premium of 40 percent.

Established in May 2007 and headquartered in Hyderabad, Nova AgriTech is primarily focused on three segments: soil health, plant nutrition, and crop protection. Bajaj Capital and Keynote Financial Services served as the book running lead managers for the Nova AgriTech IPO, and Bigshare Services was the registrar for the issue.