Of the balance 30, only six issues, or 20 per cent, have been continuously traded right from the first day of listing. In terms of the amount raised from the public, the ever-active six issues which tapped Rs 924 crore from the public and account for over 75 per cent of the total Rs 1,224 crore raised by the 30 initial public offerings (IPOs). If there are six active scrips among the listings, there are also six `lost ones' which have vanished from the quotation list for more than six months now after registering a few initial quotes. Another eight scrips also belong to the category of the lost ones for having missed trading for three to six months. Further, six others have to be added to the same list as they have failed to get a quote for 31days to six months. Thus, in all, there are 20 scrips in the lost group, missing from 31 days to over six months.

Bank of India most actively traded new stock

In all, this scrip has been traded for all the 245 days since listing. The others which have achieved cent per cent trading are ICICI Banking Corp (147 days), Corporation Bank (99 days), Gujarat Mineral Development Corp (79 days), IndusInd Bank (62 days) and State Bank of Bikaner & Jaipur (68 days). The two current market favourite software scrips could not achieve a perfect score, as they missed the 100 per cent mark by a whisker. Cybertech Systems and Infotech Enterprises have missed trading for just two days and one day respectively. Cybertech has attracted trading for 149 days out of 151 days of listing and Infotech for 145 days out of 146 days of listing.

The worst among the new listings in terms of the number of days traded is Robinson Impex. This scrip was quoted for just one day out of 236 days of its listing. It is followed byPushpanjali Floriculture which was traded for two days out of 217 days of listing. Cilson Organics was traded for two days out of 180 days of listing. Both NCS Gayatri Sugars and Bilati Orissa, which have been listed for 82 days and 52 days respectively, have changed hands on only one day. Priyadarshini Fabrics has attracted quotes on four days out of 50 days of its listing. Interworld Fashion registered trades on nine days out of 255 days. A close look at the new listings suggests that the premium issues are more actively traded than the ones that came at par. Here, one may tend to agree with the general belief of the promoters that unless the `market-makers' are roped in, a new stock at par, despite all its inherent attractions, normally may not be able to attract the investors in the secondary market, at least under the present market conditions. You have to `market' everything aggressively in the market, and the stock market need not be an exception. Only the regulator may not legally agree tothis.

(Arranged by Investar -- The Aarthik News & Research Syndicate)