Premier Energies share price saw a 12 per cent decline on Tuesday’s trading session to record-high to ₹1,267.95 per share, after the stock continued to rally for eight session straight.
The stock started the day on a positive note, however, turned red during the intraday day session. Since listing, the Premier Energies shares have surged as much as 181 per cent over the IPO price of ₹450.
Such spectacular profits, however, were quickly followed by a wave of profit booking at the counter, which caused it to plunge more than 6 per cent into the sea of losses. Premier Energies’ stock price was ₹1,140.50 on the NSE at 1:25 PM.
What’s behind the rally?
Notwithstanding this, the company’s prognosis is still positive. Also, the business just secured a ₹215 crore order. With a complete 5-year guarantee, the Uttar Pradesh Department of Agriculture granted the contract for the supply, installation, and commissioning of 8,085 solar water pumping systems throughout the state’s districts. By March 2025, the order is expected to be finished.
A draft set of guidelines for an authorized list of solar cell models and manufacturers (ALMM) was also announced by the Ministry of New and Renewable Energy (MNRE) over the weekend, raising expectations that the company will profit from it starting in April 2026.
The company produces integrated solar cells and panels, offering a product range that includes cells, solar modules, monofacial and bifacial modules, as well as EPC (Engineering, Procurement, and Construction) and O&M (Operations and Maintenance) solutions.
Premier Energies’ promising growth prospects have attracted significant attention from institutional investors. High-profile names like Blackrock, Nomura, Abu Dhabi Investment Authority, DSP India, Morgan Stanley, HDFC Mutual Fund, ICICI Mutual Fund, and PNB Paribas all participated in the company’s IPO anchor book, further fueling its post-listing rally.
This remarkable listing result was in line with the pre-listing excitement, which was generated by the company’s solid financial position, enthusiastic investor base, and advantageous market circumstances.
