Waaree Renewable shares rebound 19%, log highest turnover; here's why 

Shares of Waaree Renewable Technologies Ltd rebounded on Tuesday after falling 26% in the last three sessions. The correction in the stock came after the firm on January 7 after market hours said, Dilip Panjwani tendered his resignation as chief financial officer (CFO) of the company, citing personal reasons. However, the stock posted a strong recovery on Tuesday after the firm said its board would consider declaration of interim dividend to the equity shareholders along with fixing of record date for the said purpose on January 16. 

Waaree Renewable said its board would also announce earnings for the quarter ended and nine months ended December 2024 on the same day. 

Waaree Renewable shares rose 19.23% in the afternoon session today. Market cap of the firm  stood at Rs 11,675 crore on BSE.

Total 16.28 lakh shares of Waaree Renewable changed hands amounting to the highest turnover of Rs 165.10 crore. The share hit a 52-week high of Rs 3037.75 on April 26, 2024 and fell to a 52 week low of Rs 472.28 on January 15, 2024. The stock is not listed on NSE. On December 19 last year, the company's board approved the listing of its equity shares on National Stock Exchange of India (NSE) subject to regulatory approvals.

The share trades lower than the 10 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock is oversold on charts with a RSI of 19.5. It has very low volatility with a beta of 0.8 in the last one year. The stock has gained 137.32% in one year and risen 1,030% in two years. In three years, the stock has gained 1472.61%. 

Waaree Renewable is engaged in the business of generation of power through renewable energy sources and also providing Engineering, procurement, and construction (EPC) services in this regard. It has its registered office in Mumbai and its energy generation site is located in Maharashtra.