Waterways leisure tourism hits 10% circuit twice after shaky debut
Business
Waterways Leisure Tourism shares bounced back, hitting the 10% upper circuit two days in a row, even after a shaky market debut earlier this week.
The stock opened way below its issue price of ₹808, dropping as low as ₹623.30 before closing over 17% down.
Despite that rough start, investor demand has been strong.
Analysts urge caution on 101 P/E
Ravi Singh from MasterTrust thinks the rebound could be a buying chance but warns there might be ups and downs until Waterways shows solid earnings.
Shivani Nyati from Swastika Investmart suggests IPO investors hang on for the long run, while new buyers should wait for more stable financial results since the IPO's valuation is pretty high at 101 times P/E.
The company runs Cordelia Cruises.