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BSE IPO index rallies 2%; Denta Water, Belrise, Hyundai Motor hit new highs
At 02:26 PM, the BSE IPO index was up 1.6 per cent, as compared to a 0.42 per cent rise in the BSE Sensex. In the past week, the IPO index gained 3.5 per cent, as against a 0.83 per cent rise in the benchmark index.
Why are newly listed stocks rising?
Among the individual stocks, Denta Water and Infra Solutions have zoomed 16 per cent to ₹397 on the back of a six-fold jump in average trading volumes. A combined 8.05 million shares representing 30 per cent of the total equity of the company have changed hands on the NSE and BSE.
Denta Water is a leading civil engineering contractor in the water infrastructure sector. The company has also selectively expanded into allied sectors such as railways and highways, in line with its long-term diversification and growth strategy. As of June 30, 2025, the company have an order book of ₹593.7 crore, providing multi-year revenue visibility.
Shares of Belrise Industries have rallied 12 per cent to ₹156.25 on the back of heavy volumes. As many as 55.69 million shares representing 6.3 per cent of the total equity of the auto ancillary company have changed hands on the NSE and BSE. Currently, the stock is trading 74 per cent higher over its issue price of ₹90 per share. The company made its stock market debut on May 28, 2025.
Shares of Hyundai Motor India hit a new high of ₹2,549, as they rallied 5 per cent in intra-day trade. In the past two trading days, the stock price of India's second-largest player in Passenger Vehicle (PV) has surged 14 per cent after the Prime Minister of India, in his Independence Day address, announced "next generation GST reforms", which will be rolled out by Diwali 2025.
Currently, Hyundai Motor India is trading 30 per cent higher over its issue price of ₹1,960 per share. The company made its stock market debut on October 22, 2024. The stock has bounced back 65 per cent from its 52-week low of ₹1,542.95 touched on April 7, 2025.
The government has proposed GST 2.0 reform, which aims to rationalise the current multi-slab structure into a simpler framework, with two main rates of 5 per cent and 18 per cent, and a higher 40 per cent slab for luxury and sin goods. If the base GST rate of 28 per cent gets revised to 18 per cent, this is positive for the entire sector (including the auto component supply chain) and is expected to drive demand across all segments (PV, 2-W, 3-W & CV). This shall lower the initial purchase price of vehicles for consumers in the range of ~5-10 per cent, according to analysts at ICICI Securities.
Shares of Brigade Hotel Ventures have gained 7 per cent to ₹91.74 on the back of a five-fold jump in trading volumes. The stock has recovered 18 per cent from its recent low of ₹77.45 touched on August 6, 2025. The company made its stock market debut on July 31, 2025. Currently, the stock is trading 2 per cent above its issue price of ₹90.
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