What does the future hold for Vari Energies stock?
Shares of solar panel maker Vaari Energies Limited were listed in the market on Monday with a jump of almost 70 per cent from its issue price of Rs 1,503, which opened at Rs 2,550 per share on BSE. After this, it rose by 72.98 percent to Rs 2,600. At market close, it reached 2,336 with an increase of 55 percent.
It was subscribed 76 times.
The stock was listed on NSE at Rs 2,500 with a gain of 66.33 per cent. The market capitalization of the company stood at Rs 67,866.35 crore. The initial public offering of Vaari Energies Limited received 76.34 times subscription on the last day of bidding on Wednesday. The price range of Rs 1,427 to Rs 1,503 per share has been fixed for the company’s Rs 4,321.44 crore initial public offering. Now the question that arises here is whether the rise of the stock will continue in the future or we can see a fall.
What is the future of the company’s shares?
The company is the largest manufacturer of solar photovoltaic modules in India. The company recorded extraordinary growth in its revenues and results from fiscal year 2023, which is an indication of the future prospects. It is working on manufacturing 6 GW of ingots, solar cells and solar PV modules in Odisha, which has the potential to significantly accelerate its financial performance. The issue was issued at a completely fair value based on the expected annual earnings for FY25. However, after the company’s IPO its price has increased slightly. According to experts, if investors choose the medium and long term, they will be able to obtain better returns.
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Let us tell you that its operating profit was the second best among all domestic solar PV module manufacturers in India for FY 2024. As per the CRISIL report, the company started its operations in 2007 with an aim to focus on manufacturing photovoltaic solar modules, to provide markets with cost-effective and quality sustainable energy solutions and help reduce the carbon footprint to pave the way. sustainable energy, which can improve the quality of life.
