Solar PV module manufacturer Waaree Energies Limited made its stock market debut on Monday with a listing price of ₹2,500 on the National Stock Exchange (NSE), marking a 66 per cent premium over its issue price of ₹1,503. However, the shares retreated in early trading, declining nearly 4 per cent to ₹2,400.55 on NSE and 5.73 per cent to ₹2,404 on BSE as of 10:46 AM IST.
“Investors may consider booking part profit here, and those who want to hold it for the long term may keep a stoploss of 2000,” said Shivani Nyati, Head of Wealth at Swastika Investmart Ltd.
The company, which has an aggregate installed capacity of 12 GW for manufacturing solar PV modules, saw robust demand during its initial public offering (IPO) that closed on October 23.
Trading data at 10:46 AM showed sell orders at 15,82,592 shares outweighing buy orders of 7,12,739 shares, indicating selling pressure in early trade.