Waaree Energies shares rallied 49% in 9 sessions; should you chase this momentum or wait for dips?

Shares of Waaree Energies Ltd rose sharply in Wednesday's trade, continuing their winning run for the ninth straight session. The stock jumped 19.45 per cent to hit a high of Rs 3,119.90. At this price, it has zoomed 49.12 per cent in nine trading days.

Today's strong run-up came after the solar panel maker recorded a 34.1 per cent year-on-year (YoY) jump in net profit, at Rs 618.9 crore, for the fourth quarter that ended on March 31, 2025 (Q4 FY25).

Waaree Energies posted a net profit of Rs 461.5 crore in the corresponding quarter of the last fiscal. Its revenue from operations surged 36.4 per cent to Rs 4,003.9 crore in Q4 FY25 as against Rs 2,935.8 crore in the year-ago period.

Amit Paithankar, Whole Time Director & CEO at Waaree Energies, said, "FY25 marks a pivotal inflection point in Waaree's journey- a year where our strategy, scale, and execution converged to deliver industry-leading EBITDA performance of Rs 3,123.20 crore. This performance underscores the strength of our execution capabilities and the quality of order book, with centred focus on margins."

Paithankar added that the company's EBITDA outlook for FY26 stands at Rs 5,500 crore to Rs 6,000 crore.

A market expert suggested buying this stock on dips instead of chasing the current upmove. "Investors should not chase this gap-up opening but can consider buying the counter on dips at around Rs 2,600-2,700 levels. Keep a strict stop loss of Rs 2,500, expecting an upside target price of Rs 3,000," Kiran Jani, Head of Technical Research at Jainam Broking, told Business Today.

Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, said one can hold on to the stock from a medium- to short-term view. "The next couple of quarters will be crucial for this stock, he underscored.

Incorporated in December 1990, Waaree Energies is an Indian manufacturer of solar PV modules. As of March 2025, promoters held a 64.30 per cent stake in the solar module manufacturer. The Mumbai-headquartered firm has an installed capacity of nearly 15 GW for solar PV modules and 5.4 GW for solar cells.