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What is the story about?
Shares of Premier Energies Ltd. are down over 6% on Monday, January 5. Along with Premier, shares of its peer Waaree Energies are also trading lower by over 4%.
Premier Energies shares have declined in six out of the last seven trading sessions. In fact, the stock has declined in 11 out of the last 15 trading sessions.
On the flip side, shares of Waaree Energies are down for the eighth straight session. Here too, the stock has declined in 12 out of the last 15 trading session.
In January 2025, shares of Waaree Energies had declined 17% in the first month of the year, while those of Premier Energies were down 24%.
With this fall, shares of both Premier and Waaree Energies have extended their losses from their respective post-listing highs.
While shares of Premier Energies are down 41% from their 52-week high of ₹1,339, those of Waaree Energies are down 29% from their recent 52-week high of ₹3,865.
In a note on Monday, brokerage firm Bernstein maintained it "Underperform" rating on both Premier and Waaree Energies. Bernstein has a target of ₹718 on Premier Energies, while for Waaree, it has a target of ₹2,109, which still implies a potential downside of 22% from current levels. For Premier Energies, the downside potential is 10.2%.
13 analysts have coverage on Waaree Energies, of which nine have a "buy" rating and the other four have a "sell" recommendation.
12 analysts have coverage on Premier Energies, of which six have a "buy" rating, two say "hold", while four have a "sell" rating.
Shares of Premier Energies are down 5.5% at ₹799, while those of Waaree Energies are down 4.4% at ₹2,739.8.
Premier Energies shares have declined in six out of the last seven trading sessions. In fact, the stock has declined in 11 out of the last 15 trading sessions.
On the flip side, shares of Waaree Energies are down for the eighth straight session. Here too, the stock has declined in 12 out of the last 15 trading session.
In January 2025, shares of Waaree Energies had declined 17% in the first month of the year, while those of Premier Energies were down 24%.
With this fall, shares of both Premier and Waaree Energies have extended their losses from their respective post-listing highs.
While shares of Premier Energies are down 41% from their 52-week high of ₹1,339, those of Waaree Energies are down 29% from their recent 52-week high of ₹3,865.
In a note on Monday, brokerage firm Bernstein maintained it "Underperform" rating on both Premier and Waaree Energies. Bernstein has a target of ₹718 on Premier Energies, while for Waaree, it has a target of ₹2,109, which still implies a potential downside of 22% from current levels. For Premier Energies, the downside potential is 10.2%.
13 analysts have coverage on Waaree Energies, of which nine have a "buy" rating and the other four have a "sell" recommendation.
12 analysts have coverage on Premier Energies, of which six have a "buy" rating, two say "hold", while four have a "sell" rating.
Shares of Premier Energies are down 5.5% at ₹799, while those of Waaree Energies are down 4.4% at ₹2,739.8.
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