Fri, Feb 2, 2024 2:38 PM
Energy stocks gain up to 10% led by BPCL, RIL, IREDA. Here's why
A Flip by Avya Verma
Shares of Waaree Energies soared 12 percent to hit new record high of Rs 2,718 per share on October 31, extending gains to fourth straight day amid heavy volumes. After a blockbuster debut of 70 percent premium, this renewable energy stock has now zoomed over 80 percent against its issue price of Rs 1,503 per share. On October 28, the company made a strong market debut.
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Shares of Prudent Corporate Advisory Services skyrocketed 14 percent to scale to an all-time high of Rs 3,090 per share on October 31 after it reported a strong second quarter performance. In Q2FY25, the company’s operating revenue surged by 51 percent year-on-year to Rs 286.1 crore. This growth was fueled by a 53 percent rise in average quarterly AUM in the mutual fund segment.
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Shares of Five-Star Business Financed extended their decline on October 31, sliding another 9% to Rs 698 after a 13% drop on October 30. The two-day fall has brought the stock down by nearly 19%, despite the company’s strong quarterly performance for the September period. The sell-off began Wednesday when the company, in its earnings call, revised its AUM growth outlook down to 25%.
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