Waaree Renewable shares jump 5% on Rs 1,233 crore solar project order

Waaree Renewable Technologies' shares surged 5 per cent successful aboriginal commercialized connected November 28, pursuing quality of a Rs 1,233 crore bid for the operation of a 2012.47 MWp DC capableness ground-mount star photovoltaic (PV) project. At 9:23 am, the banal was trading astatine Rs 1,494.45, up Rs 71.15 connected the BSE.

This marks the company’s 2nd large bid this month. Earlier, Waaree secured a Rs 146.77 crore declaration for a 41.6 MW DC star powerfulness task successful Tamil Nadu.

Earnings bespeak coagulated growth
In Q2FY25, Waaree Renewable reported a humble 1 per cent emergence successful gross to Rs 3,574.37 crore. However, nett net surged to Rs 361 crore by 15 per cent, indicating improved operational efficiency.

Waaree Energies’ marketplace position
Waaree Energies, a starring subordinate successful India's star vigor market, continues to grow its PV module manufacturing capacity, which stood astatine 12 GW arsenic of June 30, 2023. Its manufacturing footprint spans Surat, Tumb, Nandigram, Chikhli successful Gujarat, and Noida successful Uttar Pradesh.

Stock show highlights
The banal presently trades 50.8 per cent beneath its 52-week precocious of Rs 3,037.75 (April 26, 2024) but remains 453 per cent supra its 52-week debased of Rs 270.22 (November 30, 2023). Waaree Energies’ caller beardown debut connected the NSE astatine Rs 2,500, a 66.3 percent premium implicit its contented terms of Rs 1,503, underscores marketplace assurance successful the company’s maturation trajectory.

Waaree Renewable Technologies remains a cardinal subordinate successful India’s cleanable vigor transition, with its latest task wins reinforcing its marketplace leadership.