As on 12/06/2024, Wardwizard Innovations & Mobility Ltd.'s Market Capitalization is close to 1800 crore. On 07/06/2024, the company receives an order for Rs.10000 Crore.
Logically, this a huge win for the company and should be reflected in it’s share price.
However, the Promoter group is Selling shares after the News Release (Close to 2.59%).
As on 12/06/2024, it justified it’s sale of shares as funds required for working capital requirement.
Is not raising debt much cheaper in the longer run?
Please comment on this stock.
Disclosure: I am invested.
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