it is crazy. It has run up from Rs 30 to Rs 80 within 6 weeks. But OFS at 16% discount to market price is not a good news for retail investors.
The promoters perhaps have realised that the current price Rs 80 is not worth it. It is a lesson for all of us that we should be cautious in chasing such high flying stocks , where promoter holding is very high
As per Norms , promoters can not have more than 75% stake and promoters wound like to take this opportunity in off loading. Govt hungry for money …needs money to spend.
Anyway, Order win gives future earning visibility… So, if you are long term investor , we need not worry. Fundamentally, Renewable stocks are going to be on demand due to thrust on renewable energy. Though these stocks carry PSU tag, but these PSU’s are leading from front by huge capex plan on Renewable energy.
Discl: bought Rs @33 and I may be biased.
It is not a buy or sell recommendation. please apply due diligence before buying
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