Last Updated:
Shares of Waaree Energies rose over 7% after the corporate introduced a serious order to produce as much as 1 GW of photo voltaic modules
Waaree Energies Shares
Shares of Waaree Energies rose over 7% on Tuesday, December 10, after the corporate introduced a serious order to produce as much as 1 GW of photo voltaic modules. This marks the fifth consecutive day of positive factors for the inventory.
The order, positioned by a number one renewable power firm in India, is scheduled for supply in FY25 and FY26, in response to Waaree Energies’ regulatory submitting. However, the corporate didn’t disclose the financial worth of the order.
This vital provide settlement will start in FY2024-25 and proceed into FY2025-26.
Waaree Energies, one among India’s prime photo voltaic PV module producers, has an put in capability of 12 GW throughout 5 amenities in Gujarat and Uttar Pradesh, masking over 143 acres. In addition to manufacturing, the corporate is actively concerned in photo voltaic mission improvement and electrical energy gross sales.
For the second quarter, Waaree reported a 14.77% rise in consolidated internet revenue to Rs 361.65 crore, up from Rs 315.09 crore in the identical interval final yr. Revenue from operations grew by 1.04% year-on-year, totaling Rs 3,574.38 crore for the quarter ending September 2024.
Waaree Energies made its market debut on October 28, itemizing at Rs 2,500 per share, a 66.3% premium over the problem worth of Rs 1,503 per share on the National Stock Exchange (NSE). The Rs 4,321-crore IPO was extremely oversubscribed, with demand 76.34 occasions the shares on provide, in response to change information.
As of two:45 PM, Waaree Energies’ shares have been buying and selling at Rs 3,133, up 5.56% from the earlier shut on the NSE. The inventory has gained almost 16% over the previous week.
