When Waaree Energy was listed in the stock market, there was a lot of discussion and a lot of excitement was created. The shares were listed at a premium of 66 to 70%. Those betting on IPO had earned a lot of money but now this stock has given a big shock. Hello, you are reading A2Zsahayata.com
There has been a huge decline in the shares of Waaree Energy on 7th November. Although the company also won a big order for the supply of 180 MW modules after the listing, despite this, the selling of shares was seen.
Waaree Energy shares suddenly fell
Talking about Waaree Energy, the stock fell by 8% during intraday. This share has fallen from its previous closing level of Rs 3636 on November 7 and opened at Rs 3574, while after some time it reached its intraday low level of Rs 3315.20. There was a direct fall of 8% and then closed the trading at the level of Rs 3346. Let us tell you that this is the first time after the listing of Waaree Energy shares, that this decline has occurred, after which its market cap has decreased from Rs 1 lakh crore to Rs 96.35 thousand crore.
Waaree Energy IPO listing
The shares of Waaree Energy were listed in the stock market on 28th October i.e. it entered the market on 28th October. During this period, this IPO was listed at Rs 2550 with a premium of about 66-70% from its issue price of Rs 1503. After this, a continuous rise was seen in the last week. It was up 50% after listing. The company had also told in the exchange filing that the supply of modules will start in the last week of this month and this project will be completed by the end of the financial year 2025 or rather by the fourth quarter.
Waaree Energy IPO overveiw
Regarding the company’s IPO, the IPO of Rs 4321 crore received a tremendous response from investors. For which a bid of Rs 241 crore was made while 9734000 applications were received for it. This stock has given a return of 43.06% since its listing. The 52-week high of this stock has been Rs 3743 and it has made its 52-week low at the level of Rs 2300.
Waaree Energy is the largest manufacturer of solar PV modules. Its total installed capacity by June 2024 is 12 GW. The company has also recorded the second-highest operation revenue among all domestic solar PV module manufacturers in India for FY2024.
That means everything is going well with Waaree Energy. But there is a big decline in the stock. What is the reason for this decline? How long can this decline continue? All this will become clear in the coming time. But at present investors are facing a big blow from Waaree Energy.
We have made this news for your information. Let us also tell you that if you want to invest in anything in the market, then definitely take the advice of your financial advisor and do not invest without him, this is our advice. How did you like this report and what do you have to say on the falling stock of Waaree Energies? Do tell in the comments. Keep reading a2zsahayata.com to know every small and big update of the stock market.
