Laser Power share price today: Shares of integrated power cables and transmission products manufacturer Laser Power & Infra Ltd extended their post-listing rally on Friday, surging 10 per cent to hit the upper circuit. The stock quoted ₹288.66 on the National Stock Exchange (NSE).
The company’s market valuation stood at ₹4,058.05 crore.
Laser Power: Institutional investors buy stake
Nippon India Mutual Fund bought 8,95,239 share of Laser Power at ₹260.98 apiece, while Bank of India Mutual Fund purchased 9,43,020 shares at ₹263.36. BofA Securities Europe SA, a subsidiary of Bank of America Corporation, acquired 9,00,000 shares at ₹262.63.
Laser Power on Thursday listed with a premium of nearly 26 per cent against the issue price of ₹214. The stock started trading at ₹269, up 25.70 per cent from the issue price on the BSE. At the NSE, it listed with a premium of 16.82 per cent at ₹250.
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Laser Power stock: Should you buy?
Sourav Choudhary, MD, Raghunath Capital, said that short-term investors can consider booking partial profits, especially after the rally post strong listing. He, however, said that investors shouldn’t completely exit as the company operates in a sector that continues to benefit from India’s expanding power infrastructure and transmission capex cycle.
“With a healthy order book and plans to strengthen its balance sheet through debt reduction, the medium-term outlook remains constructive,” he said.
For medium to long-term investors, Sourav suggested booking around 40–50 per cent of the holdings to secure gains while retaining the remaining position to participate in any further upside driven by execution and earnings growth.
The ₹742 crore IPO of Laser Power was subscribed 38.94 times. The public offer had a fresh issue of equity shares worth ₹542 crore and an offer-for-sale (OFS) of ₹200 crore by promoters.
Proceeds from the fresh issue will primarily be used to prepay or repay borrowings worth ₹490 crore, while the balance amount will be utilised for general corporate purposes.
Laser Power & Infra operates in the manufacturing and engineering, procurement and construction (EPC) segments. It manufactures power cables, conductors, aluminium wire rods, aerial bunched cables and other products used in the power transmission and distribution sector.
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