Waaree Energies shares surge 33% in six months; should you hold or book profits?

Shares of Waaree Energies Ltd climbed 1.62 per cent to settle at Rs 3,585.30 on Monday. At this level, the stock has gained 32.74 per cent over the past six months.

The company recently informed exchanges that it has secured multiple orders for the supply of solar modules from leading renewable power developers in India. These include orders of 220 MW, 210 MW, and 140 MW from renowned domestic customers engaged in owning, developing, and operating solar power projects.

In addition, Waaree Solar Americas Inc, the company's wholly owned subsidiary, received an order on October 24 for the supply of 122 MW of solar modules from a prominent customer in the United States. The customer is a developer and operator of utility-scale solar and energy storage projects.

Kranthi Bathini, Director – Equity Strategy at WealthMills Securities, said, "Waaree Energies' stock is fully priced in at the current level. Investors with a high-risk appetite can continue to hold their positions, while others may consider booking profits on rallies."

From a technical standpoint, Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, noted that the stock remains in a secular uptrend, trading above all its key exponential moving averages (EMAs). He identified Rs 3,450 as a key support level and Rs 3,300 as sacrosanct support. On the upside, a decisive move beyond Rs 3,750 could trigger renewed bullish momentum in the near term.

Echoing a similar view, Kunal Kamble, Senior Technical Research Analyst at Bonanza Portfolio, observed that Waaree Energies is trading near its resistance zone of Rs 3,743–Rs 3,865. He added that a breakout above Rs 3,865 would signal a fresh entry opportunity, as the stock is forming a 'Cup and Handle pattern' on daily charts. Kamble further highlighted that the 100 EMA continues to act as a strong support and that rising volumes on up-days indicate healthy buying interest.

Meanwhile, Sebi-registered analyst AR Ramachandran noted that the stock shows a mildly bullish trend on the daily charts, with strong support around Rs 3,455. He added that a sustained close above Rs 3,718 could open the path for a near-term target of Rs 4,075.

Founded in December 1990, Waaree Energies Ltd is one of India's leading manufacturers of solar photovoltaic (PV) modules. As of September 2025, the company's promoters held a 64.22 per cent stake.