Mumbai, November 19:
Newly listed stocks saw volatile action on Wednesday, with PhysicsWallah Ltd. plunging sharply on its second trading day even as Lenskart recovered from early weakness to end higher.
PhysicsWallah shares fell 7.7% to close at ₹143.28 on the NSE, slipping ₹11.96 from the previous session. Intraday, the stock opened at ₹149.73 and briefly attempted to stabilise around the ₹146–147 zone before extended selling pushed it lower. The stock touched a day’s low of ₹138.54, as per exchange data.
Despite today’s correction, PhysicsWallah still remains 34% above its IPO price of ₹109, though its gains over the listing price of ₹145 have nearly evaporated.
Strong Debut, Sharp Pullback
PhysicsWallah listed on November 18 with a 33% premium, debuting at ₹145 per share. The stock surged further during its first session, closing at ₹156.49, up 44% from the issue price. However, profit-booking and broader market weakness dragged the stock sharply lower on Day 2.
Lenskart: Early Losses Reverse
Lenskart, another recently listed stock, erased all intraday losses to finish in the green on Wednesday. The stock had initially slipped by nearly 4% amid weak sentiment but staged a late-session rebound supported by buying at lower levels.
Market View
Analysts said that such volatility is typical in newly listed stocks as early investors lock in gains. PhysicsWallah’s elevated volumes—over 16 crore shares traded—indicate heavy churn as traders continue to speculate on near-term price movement.
