Mumbai, July 5: Investors may have to wait a little longer to trade in the shares of Maruti Udyog, as formalities to begin trading in the premier stock exchanges will be ready only by Tuesday, merchant bankers said.
The stock markets are hoping that the Maruti shares will propel the bull rally into another orbit. Maruti’s debut will be keenly watched as market analysts expect the shares to take off at 15 per cent premium over the IPO price of Rs 125.
“It is either going to be on Tuesday or Wednesday next week but certainly not on Monday,” Manoj Vaish, CEO of Bombay Stock Exchange, said.
Maruti managing director Jagdish Khattar or Suzuki Motor chairman Osamu Suzuki would ring the bell to signal the start of trading on BSE.
Following in NYSE’s footsteps, BSE has lately started the tradition of ‘ringing the bell’ by the CEOs of companies whose scrips debut at the exchange.
Analysts feel that Maruti’s shares could eventually gain an entry into the main indices because of its presence in the auto industry and also by virtue of its market capitalisation.