Shares of Enviro Infra Engineers, a company specializing in water purification and sewerage systems, have been in high demand.
On Tuesday, the stock jumped by 19% to hit ₹263.90, achieving its 52-week high. By the end of the day, it settled at ₹257.90, reflecting a 15.83% gain.
The company recently entered the stock market with an IPO priced at ₹140-148 per share. Currently, the stock is trading 78% above its issue price.
Strong Market Debut with a 40% Premium
Enviro Infra Engineers made a remarkable debut last Friday in November. On the BSE, the stock opened at ₹218, a 47.29% increase from its issue price of ₹148,
and hit a peak of ₹233.50, a 57.77% gain. It closed at ₹207, marking a 39.86% rise.
Similarly, on the NSE, the stock started at ₹220, reflecting a 48.64% gain, and closed with a 39.97% increase.
Growth in Order Book and Key Shareholder
Veteran investor Mukul Mahavir Agarwal holds a 1.03% stake in the company, equivalent to 1.8 million shares.
Enviro Infra Engineers focuses on designing, constructing, and maintaining water
and wastewater treatment plants (WWTP) as well as water supply schemes (WSSP) for government clients.
The company has shown impressive growth in its order book, which increased by 42% from ₹1,496.7 crore in FY 2022-23 to ₹2,125.6 crore in FY 2024. As of June 2024, the order book stood at ₹1,906.3 crore.
