Waaree Energies shares slip 9% after delivering stellar 66% listing gains; should you buy, sell or hold? - Moneycontrol
30 October 2024
Waaree Energies shares made a strong debut on the stock exchanges on October 28 by listing at a substantial premium to the issue price. Shares of the leading solar panel manufacturer opened on the Bombay Stock Exchange (BSE) at Rs 2,550 apiece, reflecting a 69.66 percent jump from the issue price, and later rose to Rs 2,600, marking a 72.98 percent gain. On the National Stock Exchange (NSE), Waaree Energies stock debuted at Rs 2,500, representing a 66.33 percent premium, with the company's market capitalisation reaching Rs 68,983.88 crore on the NSE. Despite the strong start, the company's shares quickly saw a decline as investors engaged in profit booking. The stock dropped nearly 8 percent to an intraday low of Rs 2,300 on the NSE, while on the BSE, it fell almost 10 percent to Rs 2,294.55.
Waaree Energies shares made a strong debut on the stock exchanges on October 28 by listing at a substantial premium to the issue price. Shares of the leading solar panel manufacturer opened on the Bombay Stock Exchange (BSE) at Rs 2,550 apiece, reflecting a 69.66 percent jump from the issue price, and later rose to Rs 2,600, marking a 72.98 percent gain. On the National Stock Exchange (NSE), Waaree Energies stock debuted at Rs 2,500, representing a 66.33 percent premium, with the company's market capitalisation reaching Rs 68,983.88 crore on the NSE. Despite the strong start, the company's shares quickly saw a decline as investors engaged in profit booking. The stock dropped nearly 8 percent to an intraday low of Rs 2,300 on the NSE, while on the BSE, it fell almost 10 percent to Rs 2,294.55.
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