Premier Energies Shares Jump On Rs 2,629 Cr Block Deal; Now 43% Above 52-Wk Low; Brokerage Issue 'SELL' Call

Premier Energies, a fast-growing Telangana-based solar energy company, saw its stock price surge nearly 5% on Tuesday, June 10th, following a massive block deal transaction valued at Rs. 2,629 crore. The shares touched an intraday high of Rs. 1,115, making the stock a key focus in the stock market today.

2.5 Crore Premier Energies Shares Traded in Block Deal

As per exchange data, a total of 2.5 crore shares, accounting for 5.54% of the company's outstanding equity, were exchanged in multiple block deals during the pre-open session. The shares were traded at an average price of ₹1,052 apiece, though the names of the buyers and sellers remain undisclosed.

According to a CNBC-TV18 report, "South Asia Growth Fund II, which currently owns an 11.1% stake in Premier Energies, is believed to be the seller in this large trade. The fund had planned to offload its 5.5% holding via this block deal. A floor price was set at ₹1,051 per share, a 1% discount compared to Monday's closing price."

Premier Energies Share Price Today

On Tuesday, Premier Energies shares opened at Rs 1,093, rising 3% from the previous close of Rs 1,062. The stock has climbed 12% in the past 30 days, although it remains 16% down year-to-date. The company's market capitalisation currently stands at approximately Rs. 49,777 crore as of 10 June. Premier Energies stock is now up 43% from its 52-week low of ₹755.55. However, it still trades below its 52-week high of ₹1,387.10.

Target Price For Premier Energy

Kotak Institutional Equities recently shared their insights from Premier Energies' Investor Day, where the company laid out its big vision for the future called Mission 2028. The company wants to transform itself from a solar panel manufacturer into a full-fledged cleantech solutions provider. All expansion projects announced in the last earnings call (Q4 FY25) are going according to plan. Despite the growth story, Kotak is still cautious. They've kept their target price at ₹900 and maintained a "SELL" rating on the stock.

Premier Energies Q4 Results

Premier Energies Ltd reported its Q4 Q4FY25 Financial results on May 19, where the company reported Q4 revenue rose 43.9% year-on-year to Rs 1,620.8 crore, while annual revenue more than doubled by 107% to Rs 6,518.7 crore. Profit after tax also saw a sharp jump, climbing 167% in Q4 to ₹277.8 crore. For the full year, net profit surged 307% to Rs. 937 crore. Operationally, Premier Energies delivered robust performance, with EBITDA for Q4 rising 187% to Rs 528.6 crore. The company's EBITDA margin nearly doubled, improving to 32.6% from 16.4% in the same quarter last year. Despite the impressive growth figures, the stock saw selling pressure, possibly due to profit booking or broader market trends.

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