Newly Listed Stocks Under Pressure: Kalpataru, Globe Civil Projects, and Ellenbarrie Industrial Gases Share Price Fall Post-Debut

Market Performance

Newly listed stocks witnessed profit booking on July 2, with three recently debuted companies – Kalpataru, Globe Civil Projects, and Ellenbarrie Industrial Gases – slipping into the red.

• The drop comes just a day after all three stocks made a strong debut on July 1.
• Investors appeared to lock in early gains after impressive listing-day rallies.
• Share prices fell between 3% to 5%, showing signs of short-term correction.

Kalpataru Share Price Movement

• Listing Date: July 1
• IPO Price: ₹414 per share
• Debut Day Close: ₹432 per share (Up 4%)
• July 2 Price: ₹418.30 per share (Down 3%)

Kalpataru shares opened flat at ₹414 but closed 4% higher on their first day of trade. However, by the next trading session, the stock dropped 3% to ₹418.30. Despite the decline, it remains over 1% higher than the issue price.

Ellenbarrie Industrial Gases Share Price Update

• IPO Price: ₹400 per share
• Listing Price: ₹486 per share (Up 21.5%)
• Day 1 Close: ₹541.20 per share (Up 10%)
• July 2 Price: ₹511 per share (Down 4%)

Ellenbarrie Industrial Gases had a stellar debut, gaining nearly 35% on listing day. On July 2, it experienced a slight pullback of over 4%, trading at ₹511. However, the stock is still trading nearly 28% higher than its IPO price.

Globe Civil Projects Share Price Movement

• IPO Price: ₹71 per share
• Listing Price: ₹90 per share (Up 27%)
• Day 1 Close: ₹94.50 per share
• July 2 Price: ₹89.73 per share (Down 5%)

Globe Civil Projects also witnessed a strong start, rallying from ₹90 to ₹94.50 on debut day. But on July 2, it hit the lower circuit, dropping over 5% to ₹89.73. Even with the decline, it remains over 26% above its initial price.

Main News: Profit Booking Pulls Down Newly Listed Stocks

The correction in the share prices of Kalpataru, Globe Civil Projects, and Ellenbarrie Industrial Gases highlights a common trend seen post-listing — profit booking at higher levels. While each stock began trading with significant premiums, the immediate sell-off has trimmed their short-term gains.

Key Observations:

• All three stocks remain above their IPO prices despite the fall.
• The sell-off is driven by investors booking quick profits.
• The movement reflects typical volatility in newly listed counters.

Company Snapshot

Kalpataru Projects International Ltd.

• Sector: Real Estate Development
• Base: Mumbai
• IPO Price: ₹414

Ellenbarrie Industrial Gases Ltd.

• Sector: Industrial Gases
• Base: Kolkata
• IPO Price: ₹400

Globe Civil Projects Ltd.

• Sector: Civil Engineering & Infrastructure
• IPO Price: ₹71

Summary of the Article

The share prices of Kalpataru, Globe Civil Projects, and Ellenbarrie Industrial Gases declined by up to 5% on July 2, following their stock market debuts. Despite substantial listing gains, investor profit booking led to a dip in prices. Still, all three stocks continue to trade well above their respective IPO prices, indicating sustained investor interest.