Cyber Media stock drives bulls into a frenzy

The Cyber Media stock is continuing to surge on the bourses. On Monday, it closed the day at Rs 126.50 on BSE and at Rs 127.05 on NSE. Compared to its issue price of Rs 60, the rally has been staggering.

Over 22 lakh shares were traded on the BSE on Monday; at the NSE, the volume at the counter was a phenomenal 85 lakhs-plus. In between, the stock touched a high of Rs 127.05 on NSE during intra-day trades.

On BSE, the scrip saw a rise of 19.96%, while at NSE, it was 20.03%. The bull run on this counter, in fact, started on Friday when Cyber Media opened at Rs 75 on BSE.

The fixed price offer of Cyber Media which closed on May 9, 2005 was oversubscribed by 2.7 times. The size of the IPO was Rs 16.93 crore. © 2005 agencyfaqs!