Cordelia Cruises operator Waterways Leisure Tourism shares hit a 10 percent upper circuit limit on Thursday a day after weak market debut.
Shares of the company quoted at Rs 734.90 per share on the NSE, up 10 percent.
The company's total market valuation jumped to Rs 5,320.27 crore on Thursday from Rs 4,831.25 crore on the debut day on Wednesday.
Waterways Leisure Tourism shares ended with a discount of over 17 percent against the issue price of Rs 808 in debut trade.
The stock kickstarted the trading session at Rs 690, a decline of 14.60 percent from the issue price on the BSE. Intra-day, it tanked 22.85 percent to Rs 623.30. The stock ended at Rs 667.35, down 17.40 percent.
At the NSE, the stock started the trade at Rs 681, registering a drop of 15.71 percent. Shares of the firm ended at Rs 668.10, down 17.31 percent.
Cordelia Cruises shares: Should you buy?
Shivani Nyati, Head of Wealth at Swastika Investmart, said, "investors who were allotted shares may continue to hold them with a long-term perspective, while fresh investors should wait for better earnings visibility and more attractive entry levels. Her view on the stock remains neutral, with a stop-loss at Rs 640 on a closing basis."
The initial public offering of Waterways Leisure Tourism Ltd sailed through on the final day of bidding on Thursday last week. The IPO was booked 1.46 times.
The company's Rs 585-crore IPO had a price band of Rs 769-808 per share.
Waterways Leisure Tourism operates Cordelia Cruises, India's domestic ocean cruise brand, offering luxury cruise experiences across domestic and international destinations.
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