Waterways Leisure Tourism shares hit 10% upper circuit for second straight day. Newly listed stock nears its issue price

Waterways Leisure Tourism shares hit the 10% upper circuit for the second consecutive session on 3 July, recovering after a weak stock market debut earlier in the week. The stock had listed at around ₹690 on the BSE, down 14.60% from the issue price of ₹808, and settled at ₹667.35 on debut day, a 17.40% discount to the issue price. The ₹585-crore IPO, subscribed 1.46 times and priced at a P/E of about 101x, drew a neutral stance from analysts citing steep valuation and the need for stronger earnings visibility.