Waaree Energies GMP suggests robust listing, but long term rewards are equally promising
Waaree Energies next week, given the shares are commanding a hefty premium in the grey market.
Waaree Energies shares are trading with a GMP of Rs 1350 in the grey market and considering the upper price band, the stock is expected to list with a premium of 90%.
The GMP came down a bit from over 100% in the previous day, impacted by secondary market sentiments.
Analysts said given the company's strong fundamentals, leadership in the solar energy sector, and the overwhelming subscription numbers, the expected listing price seems justified. Not just the listing gains, the stock could reward.
«For those who receive an allotment, holding the stock for the long term could be a good strategy, considering Waaree Energies’ growth potential in the renewable energy space. However, investors with a short-term view may consider booking partial profits on listing day, especially if the stock sees a significant surge,» said Shivani Nyati, Head of Wealth, Swastika Investmart.
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