SBI Securities Gives A Thumbs Up To Waaree Energies And Explains How China Threatens Its Growth

Waaree Energies made an impressive debut on the stock market, with listing gains of 67% and closing over 55% on its first day. Now, investors are considering whether to buy into this stock or wait for a price correction. Sunny Agrawal, DVP and Head of the Fundamental Desk at SBI Securities, shares his insights. According to Sunny Agrawal, Waaree Energies stands as one of India’s largest solar module manufacturers, boasting a production capacity nearing 13 gigawatts, with plans to expand by an additional 5 gigawatts. The stock was priced at about 31 times its FY24 price-to-earnings multiple, reflecting its strong growth potential. Sunny Agrawal suggests that while the company holds promise for long-term investment, a cautious approach is advisable post-listing due to the robust debut. However, he notes one key risk: India's current import duty on Chinese solar modules, which is crucial in safeguarding the domestic industry. Should the government reconsider or adjust this duty, it may affect Waaree Energies' growth trajectory. Watch this video to know more about Sunny Agrawal's outlook and recommendations for Waaree Energies in this exclusive analysis.