MV Electrosystems extends post-IPO gains; stock jumps 15% to record high
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MV Electrosystems has extended its post-listing rally despite reporting lower sales and a loss in FY26. The stock's latest surge comes ahead of its September 29 AGM, with trading volumes also picking up during Monday's session.
Shares of newly listed MV Electrosystems jumped 15% in intraday trade on Monday, September 7, extending their gains after the company's market debut. The stock hit a fresh record high of ₹838.40 on the BSE, even as the broader market traded lower.
MV Electrosystems shares opened at ₹733.85 against the previous close of ₹729.05 and climbed to ₹838.40 during the session. At 11:31 am, the stock was trading at ₹834.40, up ₹104.70 or 14.35%.
Trading volumes were also higher, rising to more than 1.13 times the usual level. The sharp move came despite the Sensex falling 0.60% around 11:15 am.
The stock's latest rally comes after a strong listing. MV Electrosystems had made its market debut at ₹520 on the NSE, against an IPO issue price of ₹425, translating into a 22.35% listing gain.
Since then, the shares have moved considerably higher, with Monday's session taking the stock to a new all-time high.
Why is MV Electrosystems share price rising?
The company has announced that its 17th Annual General Meeting (AGM) will be held on Tuesday, September 29, 2026, at 11 am.
Shareholders will consider the adoption of the company's audited financial statements for FY26 at the meeting. The agenda also includes approval of the appointment of Mohit Vohra and Sumit Dhawan as directors.
The AGM announcement comes against the backdrop of a weaker financial performance in FY26. According to the company's annual report, sales and other income fell to ₹49.80 crore from ₹64.64 crore in FY25.
The company also moved into the red during the year. MV Electrosystems reported a loss of ₹12.63 crore in FY26, compared with a profit of ₹1.40 crore in the previous financial year.
Despite the decline in sales and the reported loss, the stock has continued to attract buying interest since its listing, with Monday's 15% surge taking it to its highest level so far.
The sharp rise also means the stock has moved well above its IPO price, adding to the gains seen since its debut on the exchanges.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
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