Waaree Renewable shares jump 5% on Rs 1,252 crore order win; all you need to know

Shares of Waaree Renewable Technologies Ltd gained 5 per cent in Tuesday’s trade after the company bagged a large solar power project worth around Rs 1,252 crore.

On Tuesday, the stock jumped 4.9 per cent to hit the day’s high of Rs 1,063.45 apiece on the BSE, over its previous close of Rs 1,013.30. At 1:43 pm, Waaree Renewable shares were up 2.42 per cent at Rs 1037.80, while the company’s market capitalisation stood at Rs 10,818 crore. The stock is currently trading around 42 per cent above its 52-week low of Rs 732.05.

In a filing with the exchanges, the company said it has received a Letter of Award (LoA) of Rs 1,252.43 for executing an 870 MWac/1,218 MWp grid-connected ground-mount solar project. The contract, awarded by Waaree Forever Energies Pvt Ltd (a subsidiary of the holding company), will be executed on a turnkey EPC basis and includes a 33kV/400kV substation, transmission line works, and two years of operations and maintenance.

The project is expected to be completed in FY27. Waaree Renewable said the order strengthens its portfolio and provides healthy revenue visibility over the medium term.

On the technical front, Waaree Renewable shares are trading above their 5-, 10-, 20-, 30-, 50-, 100- and 150-day simple moving averages (SMAs) but remain below the 200-day SMAs. The stock’s one-year beta stands at 1.8, reflecting high volatility during the period.

Waaree Renewable Technologies Limited, formerly known as Sangam Renewables Limited, transitioned into a public entity on November 18, 2011. Headquartered in Maharashtra, Waaree Renewable operates solar power generation sites in the state and has positioned itself firmly in the renewable energy space. Alongside power generation, the company is also engaged in offering Engineering, Procurement and Construction (EPC) services, strengthening its presence across the clean energy value chain.