Another Day, Another Upper Circuit: ESDS Now Up 269% From IPO Price
The seemingly unstoppable rally in ESDS Software Solution continued today, with the stock hitting the upper circuit for the fifth…
ESDS Software Solutions has experienced an unprecedented 269% increase in its stock price since its IPO, now trading at ₹1,582.70 on the NSE – 268.9% above its initial offering price of ₹429 per share. The enterprise cloud and AI company has hit the upper circuit on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) for five consecutive trading days, starting from its debut on September 4.
The stock opened at ₹1,520 on the NSE, dipping to ₹1,330 before rebounding, and opened at ₹1,525 on the BSE, also touching an intraday low of ₹1,330. ESDS' market capitalization has reached ₹18,289 Cr ($1.9 Bn) on the NSE, and the company is now 109% above its listing price of ₹757 on the NSE. With Choice Institutional Equities setting a target price of ₹1,550 on the NSE, ESDS is currently 2.1% above the brokerage’s forecast.
The company's recent 10% circuit filter reduction and its 2.1% premium over the target price highlight the strong performance and investor confidence in ESDS' growth prospects in the AI infrastructure sector.
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