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Molbio Diagnostics shares surge over 80% since IPO

The stock, listed on Aug. 17, trades at ₹1,475.50, up 83% from its IPO price of ₹807, while Motilal Oswal has a buy recommendation with a target price implying 20% upside.

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Molbio Diagnostics shares have climbed more than 80% in less than two months since their IPO listing on Aug. 17, according to LiveMint Markets. The stock was quoted at ₹1,475.50, up 83% from its IPO price of ₹807.

Motilal Oswal Financial Services has a buy recommendation on the newly listed diagnostics company, with a target price that suggests 20% upside, LiveMint Markets reported. The outlet also noted the stock is up about 27% over the past month and up 13% so far in October after an almost 21% gain in September.

LiveMint Markets added that the shares fell more than 2% in intraday trade on Tuesday, Oct. 6, and were set to extend losses for a second consecutive session.

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