Campus Activewear Shares Slip Below IPO Price To An All

Shares of Campus Activewear Ltd. slipped below their listing price of Rs 292 apiece to an all-time low on Wednesday after a couple of large trades.

Around 41.1 lakh equity changed hands in two large trades, according to Bloomberg data. The buyers and sellers were not known immediately.

Campus Activewear made its stock market debut on May 9, 2022. It hit a record high of Rs 639 on Oct. 19, 2022.

Shares of Campus Activewear fell 4.32% to 289.9 apiece as of 1:34 p.m., compared to 1.3% decline in the NSE Nifty 50. The scrip fell as much as 6.68% to hit an all-time low of Rs 282.75 apiece intraday. It has fallen 23.5% since it's listing and 30% year-to-date.

Total traded volume stood at 35.2 times its 30-day average. The relative strength index at 28.4, implying that the stock maybe oversold.

Out of the seven analysts tracking the company, five maintain a 'buy' rating and two suggest a 'sell' on the stock, according to Bloomberg data. The average of 12-month price target given by analysts implies a potential upside of 24.3%.