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Premier Energies stock tanks 12% from day's high on profit booking after Q3

Along with its financial results, Premier Energies' board of directors declared an interim dividend of 50 per cent, or Rs 0.50 per share, on the face value of Re 1 per paid-up equity share for FY25

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Kumar Gaurav New Delhi

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Premier Energies share price today: Shares of solar cell maker Premier Energies experienced significant volatility during intraday trading on Tuesday, February 4, 2025. The stock surged 10.28 per cent from its previous close to reach an intraday high of Rs 1,177.6 on the BSE. However, it later gave up its gains, falling 12.81 per cent from the day’s peak to hit an intraday low of Rs 1,026.65. 
 
Prashanth Tapse, senior VP and research analyst at Mehta Equities, attributed the sudden fall in Premier Energies share price to profit booking by traders, despite the strong financial results.   Premier Energies reported robust earnings in Q3FY25, surpassing street expectations. In Q3FY25, Premier Energies’ profit after tax stood at Rs 255.22 crore, reflecting a 490.58 per cent surge compared to Rs 43.21 crore reported in the same quarter of the previous fiscal year, the company said in a regulatory filing. The company’s revenue from operations jumped 140.47 per cent to Rs 1,713.32 crore from Rs 712.84 crore in Q3FY24. Earnings before interest, taxes, depreciation, and amortisation (Ebitda) soared 337.76 per cent to Rs 549.57 crore in Q3FY25, compared to Rs 125.48 crore reported in the same quarter last year. 
 
The concern, Tapse highlighted, stems from recent actions by the Trump administration. Last week, the company halted its US solar cell facility plans amid policy uncertainty, as concerns over the US stance on clean energy have continued to weigh on Premier Energies' near-term outlook.
 
Investors, he suggested, should wait and watch for further downside in price action. "In a worst-case scenario, the stock could test Rs 900 levels, which could be the best level to accumulate for long-term investment, but the risk of policy uncertainty under Trump will remain," Tapse added.
 
Premier Energies dividend announcement
Along with its financial results, Premier Energies' board of directors declared an interim dividend of 50 per cent, or Rs 0.50 per share, on the face value of Re 1 per paid-up equity share for FY25.
 
The company has set Friday, February 14, 2025, as the record date for determining shareholders' eligibility for the interim dividend. The dividend will be paid within 30 days from the date of its declaration.
 
Premier Energies IPO details
Premier Energies made its D-Street debut on September 3, 2024, following an initial public offering (IPO). The IPO included a fresh issue of 28,697,777 equity shares and an offer for sale (OFS), with promoters and investors offloading nearly 34,200,000 shares of Re 1 face value each.
 
The shares were listed at Rs 991 on the BSE and Rs 990 on the NSE, against the issue price of Rs 450.
 
About Premier Energies
Premier Energies is an integrated manufacturer of solar PV cells and solar modules, including custom-made modules for specific applications. It provides end-to-end solar services for ground-mounted, rooftop, floating, canal bank, canal top, and hybrid power generation systems, along with operations and maintenance (O&M) services for executed projects.
 
The company also produces customized products, such as bespoke solar tiles, and operates as an independent power producer, generating 2 MW of solar power from its plant in Jharkhand.
 
As of February 4, 2025, Premier Energies’ market capitalisation stands at Rs 46,878.28 crore on the BSE.
 
At 11:31 AM on Tuesday, Premier Energies' shares were trading at Rs 1,033.55 apiece,Si re down 3.20 per cent from the previous close of Rs 1,067.75 on the BSE. A combined total of nearly 5.81 million equity shares, estimated to be worth around Rs 630.81 crore, have exchanged hands on the BSE and NSE today.
 
The stock hit its 52-week high of Rs 1,387.10 on December 17, 2024, while the 52-week low of Rs 801.60 was recorded on September 3, 2024.
 
Since listing, Premier Energies shares have delivered a return of approximately 19 per cent.
 
Meanwhile, the benchmark equity indices were trading higher on Tuesday. The BSE Sensex was up 540.66 points at 77,727 levels, while the Nifty50 rose 0.74 per cent to 23,534.85.
 

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First Published: Feb 04 2025 | 11:55 AM IST

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