Dreams of many investors and traders came crashing in when NHPC got listed in the secondary markets today. Many had expected it to list at minimum price of Rs 40-42. NHPC debuted at Rs 42 for a few milliseconds when no one could sell their holding in NHPC IPO. It came down crashing till 36-37 levels the price at which it was offered for public last month when it opened for IPO.

NHPC could hardly sustain its initial gains that it made and closed the day at Rs 36.75, a gain of mere 2% over its offer price. It was far below the market expectation which was about Rs 40-42 levels. As written earlier NHPC should be a hold for long term when all its power plants will become operational. Indian traders and investors will now think twice before investing in the IPOs from now. Gone are days when IPOs gave returns of 50-60% on the day of opening. Lets see how NHPC performs in the longer duration. Meanwhile Indian markets which made nice gains early in the day fell sharply in the 2nd half today. Sensex closed at 15,551 levels losing 115 points and NSE lost 37 points to close at 4625 levels.

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