Waaree Energies shares dived 9% today. Here’s what happened
Waaree Energies Ltd shares logged a sharp cut on Wednesday, sliding 9.36 per cent to close at Rs 2,422.75. At this price, the stock has corrected 35.23 per cent from its all-time value of Rs 3,740.75, seen on November 6 last year. With that being said, the recently-listed scrip is still up 61.19 per cent compared to its issue price of Rs 1,503.
The stock plunged today due to profit booking across the broader market (mid- and small-cap shares) despite an overall rebound in domestic benchmarks.
“There was a broad-based profit booking across all small- and mid-cap stocks. And Waaree Energies was no exception today,” said Kranthi Bathini, Director of Equity Strategy at WealthMills Securities. “Investors with a high-risk appetite can hold…
