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“Pace of market expansion higher than economic rebound. I am not too surprised by what we have seen with the midcaps. I would not be too surprised if there is some kind of a pullback in this space over the rest of the year.”

The stock quoted a 52-week high of Rs 4298.25 and a 52-week low of Rs 2219.0.

Analysts said there were growth prospects in Indonesia and the acquisition was attractive value-wise. The deal could increase the fair value of Burger King India by Rs 25 apiece, they said. But for now, they have kept the price targets unchanged.

On the technical charts, the 200-day moving average of the stock stood at Rs 238.7.

The grey market premium shows the market is also not that enthusiastic about the issue. Grey market premium for Vijaya Diagnostics is at Rs 30, which is 5.6 per cent of IPO price. It suggests there may not be any big listing gains.

A total of 68,803 shares changed hands on the counter till 01:53PM (IST).

A total of 208,267 shares changed hands on the counter till 12:35PM (IST)

Dalmia Bharat Ltd., incorporated in the year 2013, is a Mid Cap company (having a market cap of Rs 40989.03 Crore) operating in Cement sector.

IEX shares surged 9 per cent to Rs 521.55 on Tuesday before trading at Rs 517.75 at 10.45 am.

A share purchase agreement has been executed by the bank for divestment of 20,00,00,000 equity shares (8.57 per cent stake) held by Kotak Mahindra Bank Ltd in APBL.