Shares of Premier Energies traded marginally higher on Monday, May 25, even after a large block deal involving nearly 4.7% equity changed hands in the pre-market window.
Around 2.15 crore shares of Premier Energies, representing approximately 4.7% equity, changed hands at Rs 955 per share in the block deal window. The total transaction value stood at approximately Rs 2,055.6 crore.
Following the transaction, Premier Energies shares were trading 0.31% higher at Rs 986.40 on the NSE. The stock touched an intraday high of Rs 1,004.40 and a low of Rs 978.60 during early trade.
At the current market price, the company’s market capitalization stood at around Rs 44,443 crore. Average traded volume on the counter was around 1.95 million shares.
The block deal price of Rs 955 per share was at a discount compared to the previous closing price of Rs 983.40. However, the stock remained resilient in early trading despite the sizable transaction.
Premier Energies has been one of the closely tracked renewable energy and solar manufacturing stocks in recent months amid strong investor interest in India’s clean energy and solar equipment manufacturing ecosystem.
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