Mon Oct 28 09:11:59 UTC 2024: ## Waaree Energies IPO Debuts with Strong Premium, But Quickly Slides on Profit-Taking

Waaree Energies, a solar energy solutions provider, saw a strong debut on the stock exchanges today. The company’s shares opened at Rs 2,550 on the BSE, marking a significant 69.7% premium over its issue price of Rs 1,503. On the NSE, the stock was listed at Rs 2,500.

However, the initial enthusiasm was short-lived as the shares experienced a 9% decline minutes after listing. This dip is attributed to profit-taking, a common occurrence following strong IPO debuts.

Shivani Nyati, Head of Wealth at Swastika Investmart, commented on the market activity, highlighting the initial premium and subsequent fall as a result of profit-taking.

This volatile start reflects the fluctuating market sentiment surrounding new listings. Investors are closely watching the company’s future performance to gauge the sustainability of its share price.

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