Waaree Energies share price dips after strong debut in Indian stock market. Buy, sell or hold? | Stock Market News
Source: Live Mint
Stock market today: Meeting the market expectations, Waaree Energies shares debuted in the Indian stock market at a whopping premium. Waaree Energies’ share price is listed on the BSE at ₹2,550 apiece, whereas, on the NSE, it opened at ₹2,500 per share mark. The newly-listed stock extended its listing gains further and touched an intraday high of ₹2.624 per share on the NSE and ₹2,600 apiece on the BSE. However, Waaree Energies’ share price failed to sustain at higher levels and came under the sell-off stress after the profit-booking trigger.
According to stock market experts, Waaree Energies focuses strongly on growth and expansion. They said that the strong debut of Waaree Energies shares can be attributed to this significant feature of the company and advised long-term investors to hold the scrip, maintaining a stop loss at ₹2,000 apiece. However, for a short-term investor, it is opportune to book profit and exit.
Waaree Energies share price outlook
Speaking on the outlook of Waaree Energies shares, Shivani Nyati, Head of Wealth at Swastika Investmart, said, “Waaree Energies Limited is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW. Its portfolio of solar energy products consists of multi-crystalline modules, monocrystalline modules, and TopCon modules. The company has a strong focus on growth and expansion and has demonstrated remarkable financial growth. The company has a diversified base of global and Indian customers with a strong order book.”
Shivani Nyati advised long-term investors to hold Waaree Energies shares: “Overall, Waaree Energies Limited made a strong listing of ₹2509, reflecting investor confidence in the company’s growth potential and financial stability. Investors may consider booking part profit here, and those who want to hold it for the long term may keep a stop loss of ₹2000.”
On why one should hold Waaree Energies shares for the long term, Prashanth Tapse, Senior VP — Research at Mehta Equities, said, “We believe the long investor’s demand would remain the counter on the back of sector demand and expansion plan, and an opportunity play the largest manufacturer of solar PV modules in India, bolstered by favourable government policies and few Incentive (PLI) schemes. Hence, we recommend long-term investors to “HOLD” while short-term investors can look for targets anywhere between ₹2750 to ₹2800 to book profits. Fresh accumulations can be attempted anywhere between ₹2200 to ₹2300 due to market scenario and profits booking attempts.”
Disclaimer: The views and recommendations above are those of individual analysts, experts, and brokerage firms, not Mint. We advise investors to consult certified experts before making any investment decisions.
