At record high! Newly listed Waterways Leisure Tourism share price hits 10% upper circuit after weak stock market debut

Shares of Waterways Leisure Tourism, operator of Cordelia Cruises, hit the 10% upper circuit at ₹734.05 on the BSE on Thursday, recovering a day after its weak stock market debut where it listed at a discount of around 15-16% to the IPO price. The company's ₹585-crore IPO, which carried a price band of ₹769-808, was subscribed 1.46 times during bidding with the retail portion at 4.19 times. Brokerage Swastika Investmart assigned a Neutral rating, noting the valuation at around 101x P/E appears aggressively priced despite strong industry tailwinds. For FY26, the company reported revenue of ₹579.7 crore and net profit of ₹52.1 crore.