Urban Company shares surge 9% amid high trading volume, extend rally to 86% over IPO price
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Shares of Urban Company continued their unbeaten run on the D-Street on Monday, surging 9% to hit the day's high of Rs 201.18 on the NSE. The price action happened amid high volumes with 9.6% shares changing hands around 1:20 pm. The total traded value of the shares stood at Rs 1,864 crore. Since its listing on September 17, Urban Company shares have rallied 86% over the issue price of Rs 103. The stock was listed on Wednesday at Rs 162.25 on the NSE, a premium of 57.52% to its issue price, before settling at Rs 166.83, up 61.97%. On Thursday, it extended gains to Rs 174. Prashanth Tapse, Senior Vice President (Research) at Mehta Equities, calls Urban Company a compelling long-term structural story which can serve as a proxy for the growing demand in the home services segment across its key geographies. Also Read: Jaro Institute IPO: Rs 450 cr issue opens Tuesday but ed-tech peers show mixed 1-yr returns Live Events It is the only org...