Enviro Infra Engineers sees profit booking after a solid debut. What should investors do?
Enviro Infra Engineers made a strong debut at the bourses on Friday, which exceeded the Street expectations. The stock listed at nearly 49% premium over the issue price. Post the listing, however, there were signs of some profit booking, sending the shares down 5%.
This solid performance was driven by the company's strong fundamentals, strong investor response for the IPO and the positive sentiment surrounding the water and wastewater treatment sector.
Analysts said the company's focus on sustainable infrastructure and its strong track record in executing projects have contributed to this impressive listing.
Also Read: Suraksha Diagnostic IPO Day 1: GMP, Price Band, Subscription, Key Dates and Review
«While the initial listing is promising, long-term success will depend on Enviro Infra's ability to capitalize on its growth opportunities and deliver strong financial performance. But as of now investors may hold their position by keeping a stoploss at around 200,» said Shivani Nyati, Head of Wealth at Swastika Investmart.
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