Waaree Energies shares rise 5% in early deals, here's why 

Shares of Waaree Energies rose 5% today after the solar PV module manufacturer secured NABL accreditation for its PV module testing lab at the module manufacturing facility in Chikhli, Gujarat. The stock climbed 4.78% to Rs 2974.90 against the previous close of Rs 2839.15. The market cap of the firm stood at Rs 83,810 crore mark.

Total 0.94 lakh shares of the firm changed hands amounting to a turnover of Rs 27.52 crore on BSE.

"Waaree Energies has added another feather to its cap by securing NABL accreditation for its cutting-edge PV Module Test Lab (PMTL). Located at Waaree’s state-of-the-art module manufacturing facility in Chikhli, Gujarat this accreditation further strengthens the company’s deliverance to quality, innovation, and sustainability. This marks Waaree’s second NABL accreditation, following the first achieved for its Tumb manufacturing facility," said the firm.

The initial public offering (IPO) of Waaree Energies was open from October 21 to October 23. The Mumbai-based firm garnered Rs 4,321.44 crore from its IPO, which included a fresh share sale of Rs 3,600 crore and offer-for-sale (OFS) of up to 48 lakh equity shares.

Waaree Energies is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW. Its product portfolio includes solar energy products consisting of the PV modules such as multicrystalline modules; Monocrystalline modules; and TopCon modules.