WNS Holdings (WNS) up 22% on debut. Will the rise continue?
WNS Holdings Limited (NYSE: WNS) opened with a bang on NYSE, closing the day up 22.5% to $24.50.
Fiscal 2006 Financials:
Revenue: $202.8 million
Gross Profit: $57.1 million
Net Income: $18.3 million
WNS Holding’s target industries (Source: Prospectus):
Will the rise continue?
Now the last Indian outsourcing company to IPO on NYSE was Patni Computer Systems (NYSE: PTI). Patni debuted at $20.34, opened at $23.80, hit a high of $24.50 and closed at $22.74 on its opening day (Source: Marketwatch.com). However, after a spectacular opening the stock has severly underperformed and is sitting at $12.39 today. Patni has no buzz to it and seems to be a forgotten stock. Today’s volume was only 30,900 and average daily volume is only 164,653.
I personally see something similar happening with WNS Holdings after the buzz dies away.
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