Dhoot Transmission shares rose nearly 6% on Thursday to hit a fresh 52-week high of Rs 1,495, extending gains since listing to almost 70%.

The move added to what has already been a strong run since the company’s stock market debut. Dhoot Transmission listed on the exchanges on August 17, and it made an impressive entry, opening nearly 38% above its issue price of Rs 871.

The Rs 3,067 crore IPO had drawn heavy investor interest at the time, getting subscribed more than 74 times over.

With today’s high, the stock has now climbed close to 70% from that original issue price in just three sessions of trading, a fairly rare pace of gains for a newly listed company.

Broader market sentiment also helped. Most sectors were trading higher through the day, and the general buying mood across the exchanges gave momentum stocks like this one an extra push.

Beyond the recent listing buzz, the company itself has a much longer history.

Founded in 1999 and headquartered in Aurangabad, Maharashtra, Dhoot Transmission makes wiring harnesses, electronic sensors, automotive switches, connectors and related components, largely supplying the auto industry.

Its products go into both conventional vehicles and the growing electric vehicle segment, an area where component demand has been picking up steadily across the sector.

By 15:00 pm o Wednesday, the stock was trading around Rs 1,482, still up more than 5.5% for the day.

That move takes the company’s market value to just above Rs 30,200 crore, a sharp jump for a stock that only started trading on the exchanges a few days ago.

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