Premier Energies’ stock price experienced a 12% downturn on Tuesday, reaching ₹1,267.95 per share, following an 8 session rally. Despite starting the day simply, the stock turned down during intraday trading. Since its listing, Premier Energies’ shares have increased by 181% from the IPO price of ₹450.
However, this wave was followed by a wave of profit bookings, leading to a 6% drop. The company’s stock price stood at ₹1,140.50 on the NSE at 1:25 PM.
The recent rally can be attributed to the promising growth prospects of the company, including a ₹215 crore order from the Uttar Pradesh Department of Agriculture for solar water pumping systems. The order, which comes with a 5-year guarantee, is expected to be completed by March 2025.
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Also, the Ministry of New and Renewable Energy’s draft guidelines for an authorized list of solar cell models and manufacturers (ALMM) will benefit the company starting in April 2026.
Premier Energies’ product range includes combined solar cells and panels, as well as EPC and O&M solutions. The company’s growth prospects have drawn significant attention from institutional investors, including high-profile names like Blackrock, Nomura, and HDFC Mutual Fund, who experienced in the company’s IPO anchor book.
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