Waaree Energies on Fire

I have applied for Waree Energies IPO and got one lot. I have applied for 2 lots and I got 1 lot. Waree Energies is India's largest manufacturer of Solar PV module. To be honest it is much better company than the Premier Energies as well as the PE of Waree Energies is less than Premier Energies.

PC: Google.com

When I got the allotment, I was actually in 2 mind whether to sell with 60% profit or keep it for the longer term. Since I didn't needed the money, I didn't sold it and kept it for longer duration. So it paid off, and in the last 5 days the stock has given more than 41%. So the stock which was listed for Rs 2500 is very near to Rs 3500. And still the stock is going to go up more from now on.

I think the stock will be around Rs 4K very soon and in the next year it will be around Rs 5K. I am not going to sell it below Rs 4K and after that also I am thinking of selling only 4 shares and keeping the 5 shares for the long term that will be the free shares for me.

Along with that Premier Energies which is also the Solar stock has gained quite good in the last 2-3 days. Because the solar is the future and the shares will be profitable in the future. Premier Energies is little costly than the Waaree Energies it's because the price to earning ratio of Waaree is much more than the Premier Energies. And that's why I am hoping that Waaree Energies will give much better return in the future.

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