Waterways Leisure Tourism shares hit the 10% upper circuit at ₹734.05 on the Bombay Stock Exchange on Thursday, marking a dramatic turnaround for the newly listed leisure operator.
The surge erased the significant discount the stock posted on its debut day, as investors rushed to buy the shares after the initial listing disappointment.
The sharp repricing comes just one day after the company’s muted market entrance.
Waterways Leisure shares opened significantly below their issue price on Wednesday, listing at a 15.72% discount to the IPO price.
That debut reflected a lackluster response from investors during the subscription window, which closed with only 1.46 times subscription, casting doubt on immediate market appetite for the ocean cruise operator.
Thursday’s buying interest suggests that early selling pressure was absorbed quickly, with retail and institutional investors re-evaluating the stock’s valuation.