Analysts believe that these two IPOs were listed underpriced as the markets were in the bear grip since the
beginning of the calendar year 2008.
So after their listing, price appreciation was witnessed in these stocks. But stock speculation cannot be completely denied.
"These IPOs were offered at lower prices.
So, they have managed to gain the investors' confidence as they are available at attractive valuations. But the possibility of
stock manipulation cannot be ruled out," said Prithvi Haldea, Managing Director of Prime Database.
Image: Indian investors anxiously watch the stock ticker outside the Bombay Stock Exchange as stocks plunge sharply. | Photograph: Pal Pillai/AFP/Getty Images
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