Waaree Energies Ltd saw its shares rise by 7.19% to ₹3,184.95 in Tuesday’s trade before settling at ₹3,092.55, a 4.08% gain. Despite the surge, the stock is still 17.33% below its all-time high of ₹3,740.75, achieved on November 6, 2024. The sharp price movement followed news of a major order win for solar modules.
The company announced an order to supply 1GW of solar modules to a leading renewable power project developer in India. Deliveries are scheduled across FY2024-25 and FY2025-26, further solidifying Waaree’s position in the renewable energy market.
Financial and Market Highlights
- Revenue Growth (H1 FY25): 2.95% YoY
- Profit Growth (H1 FY25): 17.98% YoY
- Market Capitalization: ₹89,777.44 crore
- Trading Volume:
- Current: 2.49 lakh shares
- Two-Week Average: 1.71 lakh shares
- Turnover: ₹77.58 crore
Key Technical Levels and Analyst Insights
| Support Level | Resistance Level | Analyst Recommendations |
|---|---|---|
| ₹2,750 | ₹3,200 | Add on dips, promising growth outlook |
| ₹2,750 | ₹3,200 | Strong technical and financial performance |
- Palak Devadiga, StoxBox: Encourages investors to add Waaree Energies on dips, citing its growth potential and ability to serve domestic and international markets like the US.
- Osho Krishan, Angel One: Identifies ₹2,750 as support and ₹3,200 as immediate resistance. Notes the stock’s bullish trajectory post-correction.
- Ravi Singh, Religare Broking: Echoes similar views, adding that the stock shows strong daily chart momentum.
- AR Ramachandran, SEBI-Registered Analyst: Predicts the stock could breach ₹3,200 in the near term.
About Waaree Energies
- Founded: December 1990
- Core Business: Manufacturing solar PV modules
- Installed Capacity: 13.3 GW
- Global Presence: Leading player in renewable energy solutions
Analyst Outlook
Waaree Energies is well-positioned for sustained growth in the renewable energy sector. With robust financials, high trading volumes, and strategic market penetration, the company continues to attract investor interest. Analysts suggest accumulating the stock during dips for long-term gains.
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Disclaimer:
This article is for informational purposes only and does not constitute financial advice. Readers should conduct their own research or consult a financial advisor before making investment decisions.