TruAlt Bioenergy shares slip 7% in 2 trading sessions after market debut
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Shares of TruAlt Bioenergy fell 3.3% to clock an intraday low of Rs 513.10 on the BSE, dropping 6.7% from their listing price of Rs 550 within just two trading sessions. The stock, which had debuted slightly below grey market expectations, faced selling pressure as investors booked early profits after a strong IPO debut. TruAlt Bioenergy had listed at an 18.5% premium to its issue price, reflecting strong investor enthusiasm, following an IPO subscription of over 75 times. However, the subsequent pullback indicates some profit-taking amid concerns over valuations, which analysts describe as relatively aggressive compared to peers in the renewable energy space. What should investors do now? Shivani Nyati, Head of Research at Swastika Investmart, recommended investors book partial profits while holding the remaining quantity with a stop loss of Rs 520 per share. Live Events She noted that the company operates in a high-growth, policy-backed...