Kwality Wall's India's Market Debut: A Rocky Start

Shares of Kwality Wall's India Ltd (KWIL) experienced a challenging debut on the stock market on Monday, listing at a 26% discount after being separated from Hindustan Unilever Ltd's ice cream business.

Initially, the stock opened at Rs 29.80 on the NSE, which was a notable 25.87% below the indicative price of Rs 40.20. On the BSE, shares started at Rs 29.90, marking a 21.6% decrease from the expected Rs 38.15 per share. However, a modest recovery followed, with the stock trading higher at Rs 31.27 on both the NSE and BSE, reflecting increases of 4.93% and 4.58%, respectively. The aggregate market valuation was registered at Rs 7,373.02 crore on the BSE and Rs 7,333.07 crore on the NSE.

Amidst a generally positive market day, the BSE Sensex rose by 93.97 points to 82,720.73, and the NSE Nifty went up 37.60 points to 25,508.70. KWIL marked this listing as a pivotal moment, stating it allows for a sharper focus on growth and innovation.