The corporate’s shares surged one other 5% intraday, hitting a document excessive of Rs 1,264.90 on the Bombay Inventory Alternate (BSE). Nevertheless, the inventory fell 5 per cent to Rs 1,145.70 at round 1:30 pm because of some revenue reserving.
The expansion continued after the corporate introduced earlier final week that it had acquired a Rs 215-crore order from the Uttar Pradesh Agriculture Division to produce 8,085 photo voltaic water pumping programs to varied districts within the state, with anticipated completion by March 2025.
Expectations that Premier Energies will profit from the Ministry of New and Renewable Vitality’s (MNRE) Accepted Listing of Photo voltaic Cell Fashions and Producers (ALMM) draft specs additionally boosted investor sentiment. The rules, launched over the weekend, will take impact in April 2026, bringing potential long-term advantages to the corporate.
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The corporate manufactures built-in photo voltaic cells and panels, and its product vary contains cells, photo voltaic modules, monofacial and bifacial modules, in addition to EPC (engineering, procurement and development) and O&M (operation and upkeep) options. The prospects have attracted nice consideration from institutional traders. Blackrock, Nomura, Abu Dhabi Funding Authority, DSP India, Morgan Stanley, HDFC Mutual Fund, ICICI Mutual Fund Effectively-known gamers resembling ICICI Mutual Fund and PNB Paribas have participated within the firm’s IPO principal bookkeeping, additional fueling its post-listing rally. down, and the subscription price reached 74 occasions as of closing.
This stellar itemizing efficiency is in line with the pre-IPO hype, pushed by the corporate’s robust fundamentals, robust investor response and favorable market circumstances.
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