Stock market today: Premier Energies share price made a stellar debut on Dalal Street during Tuesday dealings. Premier Energies' share price opened on the BSE at ₹991 apiece, whereas it opened on the NSE at ₹990 per share, delivering around 120 per cent listing gain to the lucky allottees on the listing date. However, the newly listed Premier Energies share price witnessed strong selling pressure post-listing and touched an intraday low of ₹860 per share on the NSE and BSE, recording over a 13 per cent dip against the listing price.
According to stock market experts, Premier Energies has a strong order book and business model, which augurs a strong outlook for the Company. So, those who have applied for the listing gain can book profit and exit, whereas those with a medium to long-term view can hold the scrip. However, they advised medium- to long-term investors to decide after the following sessions. If Premier Energies' share price fails to pare its intraday losses and closes below ₹9*10 to ₹915 apiece at the end of Tuesday's session, upcoming sessions can have some more downsides. So, one should make a medium to long-term perspective after a few sessions.
Advising lucky allottees to hold Premier Energies shares, Akriti Mehrotra, Research Analyst at Stoxbox, said, “Company's order book, valued at Rs. 59,265.65 million as of July 31, 2024, indicates strong demand. PEL reported a net income of Rs. 2,303 million in FY24, a turnaround from the previous loss. Significant investments, including a 4 GW TOPCon solar cell line and a rise in ROCE to 25.6%, underscore its solid market position. Investors should consider holding their shares for the medium to long term.”
Advising Premier Energies shareholders to make any medium or long-term perspective after some sessions, Arun Kejriwal, Founder of Kejriwal Research and Investment Services, said, "The next few sessions are crucial. If the stock fails to regain its lost ground and closes below ₹910 to ₹915 on Tuesday, we may witness a downside in the newly listed multibagger IPO. So, those with a short-term view can book profit and exit if the stock doesn't come above ₹910 to ₹915 in the next few hours. Those who want to hold the scrip for medium to long-term are advised to make any such decision only after a few sessions. If the stock fails to come above ₹915, then they are also advised to book profit and look at other quality stocks or re-enter in the scrip once the stock stabilizes in the next few sessions."
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
