Premier Energies shares climbed over 2% on Wednesday, marking a strong performance since its IPO, with the stock up nearly 120% from the initial price of ₹450. Brokerage firm Nuvama Institutional Equities has initiated coverage on the stock, assigning a target price of ₹1,270, suggesting a potential upside of around 32% from the last closing level.
Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, noted that Premier Energies has been trading in the ₹950–₹1,150 range for the past six months. He added that a decisive move will likely occur only after a breakout from this range, with current prices approaching a key support level tested three times previously, aligning with a bullish gap from May.
The company reported strong Q2 results, with consolidated net profit rising 72% year-on-year to ₹353.4 crore and revenue increasing 20.3% to ₹1,836.8 crore. EBITDA grew 47.4% to ₹560.7 crore, while operating margins improved to 30.53%, reflecting operational efficiency and robust renewable energy demand.
Nuvama highlighted Premier’s strategic shift into New Energy, backed by capacity expansion, backward integration, and DCR-linked revenues, projecting FY26–28 revenue and EBITDA growth of 49% and 43%, respectively, supporting a “BUY” rating with risks noted.
