Waaree Energies shares climb 11% in a month; where is the stock headed next?
Waaree Energies: The renewable energy firm reported a 118.35 per cent year-on-year (YoY) jump in net profit for the December quarter to Rs 1,106.79 crore, compared with Rs 506.88 crore in the corresponding period a year earlier.
- Feb 23, 2026,
- Updated Feb 23, 2026 8:53 AM IST
Shares of Waaree Energies Ltd rose 0.66 per cent on Friday to close at Rs 2,894.65. At the previous session's closing level, the stock has gained 11.43 per cent over the past one month.
The renewable energy firm reported a 118.35 per cent year-on-year (YoY) jump in net profit for the December quarter to Rs 1,106.79 crore, compared with Rs 506.88 crore in the corresponding period a year earlier. Revenue from operations during the quarter surged 118.81 per cent to Rs 7,565.05 crore, up from Rs 3,457.29 crore in the same timeframe a year earlier.
Market experts remain largely mixed in their views on the stock's near-term trajectory. Kranthi Bathini, Equity Strategist at WealthMills Securities, said, "One can buy the stock with a medium- to short-term view. Given the current scenario, investors should consider using a 'buy-on-dips' and sell-on-rallies' strategy."
Drumil Vithlani, Technical Analyst at Bonanza, said, "The stock recently faced rejection near the upper band around Rs 3,000. The Rs 2,970–3,000 range is acting as a strong resistance zone. Immediate support is placed near Rs 2,850, while a breakdown could drag the price towards Rs 2,700. For trend reversal, the stock must sustain above Rs 3,050 with strong volumes. Until then, rallies may attract selling near resistance zones."
Echoing a similar view, AR Ramachandran, part-time Sebi-registered research analyst at Tips2trades, noted, "Waaree Energies' stock has strong resistance at Rs 3,052. A daily close below support of Rs 2,850 could trigger a fall towards Rs 2,790 in the near term."
Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, said support is seen at Rs 2,800, while resistance is placed at Rs 3,215. He added that a decisive move above Rs 3,215 could push the stock towards Rs 3,400, with the expected short-term trading range pegged between Rs 2,800 and Rs 3,400.
Separately, Waaree Energies recently clarified over a news report titled, "Andhra secures Waaree Energies' battery giga-factory with Rs 8,175 crore investment".
It stated, "We would like to inform you that the Board of Directors of the Company, at its meeting held on October 1, 2025, had approved the increase in the manufacturing capacity of Lithium-Ion Advanced Chemistry Storage Cells and Battery Energy Storage Systems (BESS) from 3.5 GWh to 20 GWh, along with an additional capital expenditure of approximately Rs 8,000 crore in its wholly-owned subsidiary, Waaree Energy Storage Solutions Pvt Ltd. The same was duly intimated to the stock exchanges on October 1, 2025. Pursuant to the above, the Company is in discussions with the Government of Andhra Pradesh and certain other state governments for setting up the proposed greenfield manufacturing facility."
Last year, Waaree Energies CEO Amit Paithankar underscored the importance of the US market to the company's growth strategy. "It accounts for 60 per cent of our order book. US demand is secular, driven by data centers for AI, EV electrification and manufacturing reshoring -- all of which require clean and scalable power. Conventional power sources usually take five to six years to develop and are costlier, making renewables the preferred choice. Solar power is the cheapest and can be deployed at scale and speed. So, we are in a good spot and Waaree will continue to invest in the US market," he had stated.
Shares of Waaree Energies Ltd rose 0.66 per cent on Friday to close at Rs 2,894.65. At the previous session's closing level, the stock has gained 11.43 per cent over the past one month.
The renewable energy firm reported a 118.35 per cent year-on-year (YoY) jump in net profit for the December quarter to Rs 1,106.79 crore, compared with Rs 506.88 crore in the corresponding period a year earlier. Revenue from operations during the quarter surged 118.81 per cent to Rs 7,565.05 crore, up from Rs 3,457.29 crore in the same timeframe a year earlier.
Market experts remain largely mixed in their views on the stock's near-term trajectory. Kranthi Bathini, Equity Strategist at WealthMills Securities, said, "One can buy the stock with a medium- to short-term view. Given the current scenario, investors should consider using a 'buy-on-dips' and sell-on-rallies' strategy."
Drumil Vithlani, Technical Analyst at Bonanza, said, "The stock recently faced rejection near the upper band around Rs 3,000. The Rs 2,970–3,000 range is acting as a strong resistance zone. Immediate support is placed near Rs 2,850, while a breakdown could drag the price towards Rs 2,700. For trend reversal, the stock must sustain above Rs 3,050 with strong volumes. Until then, rallies may attract selling near resistance zones."
Echoing a similar view, AR Ramachandran, part-time Sebi-registered research analyst at Tips2trades, noted, "Waaree Energies' stock has strong resistance at Rs 3,052. A daily close below support of Rs 2,850 could trigger a fall towards Rs 2,790 in the near term."
Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, said support is seen at Rs 2,800, while resistance is placed at Rs 3,215. He added that a decisive move above Rs 3,215 could push the stock towards Rs 3,400, with the expected short-term trading range pegged between Rs 2,800 and Rs 3,400.
Separately, Waaree Energies recently clarified over a news report titled, "Andhra secures Waaree Energies' battery giga-factory with Rs 8,175 crore investment".
It stated, "We would like to inform you that the Board of Directors of the Company, at its meeting held on October 1, 2025, had approved the increase in the manufacturing capacity of Lithium-Ion Advanced Chemistry Storage Cells and Battery Energy Storage Systems (BESS) from 3.5 GWh to 20 GWh, along with an additional capital expenditure of approximately Rs 8,000 crore in its wholly-owned subsidiary, Waaree Energy Storage Solutions Pvt Ltd. The same was duly intimated to the stock exchanges on October 1, 2025. Pursuant to the above, the Company is in discussions with the Government of Andhra Pradesh and certain other state governments for setting up the proposed greenfield manufacturing facility."
Last year, Waaree Energies CEO Amit Paithankar underscored the importance of the US market to the company's growth strategy. "It accounts for 60 per cent of our order book. US demand is secular, driven by data centers for AI, EV electrification and manufacturing reshoring -- all of which require clean and scalable power. Conventional power sources usually take five to six years to develop and are costlier, making renewables the preferred choice. Solar power is the cheapest and can be deployed at scale and speed. So, we are in a good spot and Waaree will continue to invest in the US market," he had stated.