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What’s Distorting Stock Prices At The Time Of Relisting
Relisting a case of exchanges’ price-discovery process gone wrong.
25 Mar 2019, 09:44 AM IST
Arvind Fashions Ltd., the retailing arm carved out of the Lalbhai Group, relisted on stock exchanges at about Rs 590 apiece, and then surged the maximum 5 percent allowed in a day. An ideal trading debut—only, it wasn’t.The listing price was about half the lowest expected price that BloombergQuint had calculated based on valuations forecast by analysts.
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