Why Enviro Infra Engineers Stock Price Is Surging? Shares Up By 15% In 2 Days – News18
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Enviro Infra Engineers had a strong market debut on November 29, listing at nearly a 50 percent premium above its issue price.
The stock has already more than doubled from its IPO price of Rs 148, reflecting ongoing optimism among investors.
Shares of Enviro Infra Engineers surged by 7% on December 16, reaching a record high of Rs 318.90. This marked the second consecutive session of gains, with the stock up around 15% over the past two days, following a two-day losing streak.
(Stock Market Updates December 16)
Enviro Infra Share Price: Trading Activity and Volume
Around 11:55 AM, the stock was trading at Rs 318.29 on the NSE. Trading volume remained strong, with one crore shares changing hands in less than an hour. This was a significant increase compared to the one-week daily average of three crore shares. The previous session also saw high trading activity, with four crore shares exchanged, driving the stock to a 19% gain.
Why Enviro Infra Engineers Stock Prices Are Rising?
The surge in Enviro Infra Engineers’ stock price can be attributed to several key factors. Growing demand for sustainable water infrastructure solutions has fueled investor confidence. Additionally, a positive market sentiment, with favourable conditions across multiple sectors, has contributed to the overall rise in stock prices, providing an added boost to the company’s performance.
Market Debut and IPO Success
Enviro Infra Engineers made an impressive debut on the stock market on November 29, listing at a nearly 50% premium over its issue price. The IPO had garnered overwhelming investor interest, being subscribed 89.90 times during its three-day bidding period.
IPO Details
The IPO, open for subscription between November 22 and November 26, received overwhelming demand, with bids totaling 2,76,83,13,747 shares for the 3,07,93,600 shares offered. The shares listed at Rs 220 on the NSE, reflecting a 48.64% premium over the issue price of Rs 148.
Bullish Sentiment and Long-Term Outlook
Analysts have continued to express confidence in the stock, recommending long-term investment. The stock has already more than doubled from its IPO price of Rs 148, reflecting ongoing optimism among investors.
Support from Prominent Investors
The company has strong backing from well-known investors. Ace investor Mukul Agarwal holds over 1% of the company, while Sunil Singhania, through his Abakkus Diversified Alpha Fund, also invested in the company’s anchor book.
Company Profile
Enviro Infra Engineers specialises in the design, construction, operation, and maintenance of water and wastewater treatment plants, as well as water supply projects for government bodies.
