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The investors, who were allotted shares in the public offering, made a profit of 36 per cent as the counter touched a high of Rs 882.55, compared to its issue price of Rs 650. Market experts are suggesting that investors who applied for arbitrage gain should book profit while long term investors can remain invested.

Lodha is among the largest real-estate developers in India, by residential sales value, and is present in premium, affordable and mid income offerings across the Mumbai Metropolitan Region (MMR).

“We added some stocks like Ahluwalia Contracts because that is a company in the construction segment where things are falling in place. They have no debt and now they have started getting orders and even that execution pickup is going to happen, margins will improve over the next couple of years. We have been adding to VA Tech Wabag continuously as I believe growth visibility is very strong out there.”

The Nifty Bank index was trading 0.26 per cent down at 37460.8.

The stock quoted a 52-week high price of Rs 141.75 and a 52-week low of Rs 86.7.

BEML Ltd., incorporated in the year 1964, is a Mid Cap company (having a market cap of Rs 7725.05 Crore) operating in Engineering sector.

A total of 5,820 shares changed hands on the counter till 11:46AM (IST)

On the technical charts, the RSI of the stock stood at 51.6.

The stock traded at a P/E multiple of 54.18, while the price-to-book value ratio stood at 6.41.

Indraprastha Gas Ltd., incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 26673.53 Crore) operating in Gas & Petroleum sector.