A new listing is up 51% in the last 10 sessions and has nearly doubled from its IPO price

After making a subdued stock market debut, shares of Anand Rathi Shares and Stock Brokers Ltd. are on a 10-day gaining streak. The stock has gained in every single trading session during the month of November.

This 10-day winning streak has seen the stock surge from levels of ₹508 on October 31, to ₹769 as of Monday's closing. This 10-day surge has meant that the stock is up 85% from its IPO price of ₹414.

The last nine sessions have seen more than 10 lakh shares traded every session for Anand Rathi Shares and Stock Brokers. Monday's session saw 40 lakh shares being traded, which was more than double the 20-day average of 16.4 lakh shares.

Out of those 40 lakh shares traded, 8.4 lakh shares were marked for delivery, which is also higher than the 20-day average of 4.8 lakh shares.

However, the average delivery volume during this 10-day winning streak has dropped to 28.6% of the total number of shares traded, compared to the 42% average of the sessions prior to that 10-day run.

The exchanges have sought a clarification from the company with regards to its price movement, the response to which is awaited.

Anand Rathi Shares and Stock Brokers made a subdued debut on the bourses, listing at ₹432 per share, compared to its IPO price of ₹414. However, in the 32 sessions that it has traded on the bourses so far, the stock has declined in only 11 of them.

No analyst is covering the stock just yet.

Shares of Anand Rathi Shares and Stock Brokers ended 4.8% higher on Monday at ₹768.5.