Tijaria Polypipes tumbles on debut

Settles at Rs 18.10 on BSE

Tijaria Polypipes settled at Rs 18.10 on BSE, a 69.83% discount to initial public offer price of Rs 60. The stock debuted at Rs 62 on the BSE, a 3.33% premium over initial public offer price of Rs 60. The stock hit a high of Rs 67.80 and a low of Rs 16.05.

On BSE, 4.74 crore shares were traded in the counter

The company has an equity capital of Rs 23.63 crore. Face value per share is Rs 10.

The company reported 2.5% rise in net profit to Rs 6.9 crore on 7.4% growth in total income to Rs 119.29 crore in the year ended March 2011 over the year ended March 2010.

Tijaria Polypipes manufactures high grade HDPE, MDPE, LDPE, LLDPE, PVC and PPR pipes under the registered brand names of Tijaria and Vikas.