Manipal Payment, Asset Reconstruction gain on market debuts

Manipal Payment Solutions has surged 20 percent in recent trading, recovering sharply from its debut day weakness. The fintech company's recovery to current levels represents a 26 percent gain from its listing day low, signalling investor confidence in the newly listed entity.

Asset Reconstruction Company (India) has similarly gained ground, rising 10 percent and recovering approximately 23 percent from its own listing day lows on the BSE. The recovery in both counters suggests renewed investor interest in the financial services sector.

The dual rallies indicate that market participants are reassessing valuations of the newly listed companies following their market debuts. Both firms operate in high-growth segments of India's financial services industry, with Manipal Payment focused on digital payment solutions and Asset Reconstruction Company engaged in the non-performing assets management space.

The momentum in both stocks comes as Indian equity markets have shown resilience across broader indices. Investors remain attentive to corporate earnings and macroeconomic indicators as they navigate market conditions in the current quarter.