The corporate’s shares had surged one other 5% within the intraday session, reaching a brand new all-time excessive of Rs 1,264.90 on BSE. Nevertheless, amid some revenue reserving, the inventory dropped 5% at Rs 1,145.70 round 1:30 pm.
The surge continues as the corporate, earlier within the final week, introduced receiving a Rs 215 crore order from the Uttar Pradesh Division of Agriculture for the provision of 8,085 photo voltaic water pumping techniques throughout varied districts within the state and is scheduled for completion by March 2025.
Investor sentiment might have additionally been boosted by expectations that Premier Energies will profit from the Ministry of New and Renewable Power’s (MNRE) draft norms for an Authorised Listing of Fashions and Producers (ALMM) for photo voltaic cells. These pointers, launched over the weekend, are set to take impact in April 2026, providing potential long-term advantages to the corporate.
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The corporate produces built-in photo voltaic cells and panels, providing a product vary that features cells, photo voltaic modules, monofacial and bifacial modules, in addition to EPC (Engineering, Procurement, and Development) and O&M (Operations and Upkeep) options.Premier Energies’ promising progress prospects have attracted vital consideration from institutional traders. Excessive-profile names like Blackrock, Nomura, Abu Dhabi Funding Authority, DSP India, Morgan Stanley, HDFC Mutual Fund, ICICI Mutual Fund, and PNB Paribas all participated within the firm’s IPO anchor e book, additional fueling its post-listing rally.The IPO of Premier Energies obtained a strong response from traders, with a subscription charge of 74 occasions at shut, pushed by substantial bidding from non-institutional traders.
This distinctive itemizing efficiency aligned with the pre-listing hype, fueled by the corporate’s sturdy fundamentals, sturdy investor response, and favorable market circumstances.
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