Waaree Renewable shares jumped 5%; BSE, NSE seek clarity on '2GW solar project win' report

Shares of Waaree Renewable Technologies Ltd kicked off the maiden trading session of 2025 on a strong note in line with domestic benchmarks. The stock today surged 5 per cent to settle at its upper price band of Rs 1,409.95. It saw heavy trading volume on BSE as 2.01 shares changed hands. The figure was higher than the two-week average volume of 1.92 lakh per cent. Turnover on the counter came at Rs 28.16 crore, commanding a market capitalisation (m-cap) of Rs 14,698.24 crore.

Bourses BSE and NSE today sought clarification from the company over a new report, titled "Waaree Renewable Technologies bags 2 GW solar project in Bikaner." And, a reply from the firm is awaited.

Exchanges have put the securities of Waaree Renewable Tech under the long-term ASM (Additional Surveillance Measure) framework. BSE and NSE put stocks in short-term or long-term ASM frameworks to caution investors about high volatility in share prices.

On technical setup, the scrip traded higher than the 5-day, 10-, 20-day and 30-day simple moving averages (SMAs) but lower than the 50-day, 100-, 150-day and 200-day SMAs. The stock's 14-day relative strength index (RSI) came at 51.06. A level below 30 is defined as oversold while a value above 70 is considered overbought.

As per BSE, the stock has a price-to-equity (P/E) ratio of 73.28 against a price-to-book (P/B) value of 45.94. Earnings per share (EPS) stood at 19.24 with a return on equity (RoE) of 62.70.

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. Exchange data showed that promoters held a 74.44 per cent stake in the company.

Meanwhile, equity benchmarks BSE Sensex and NSE Nifty rang in the New Year 2025 with a positive bias, shrugging off a two-day downward trend. The 30-share Sensex pack rose 368 points or 0.47 per cent to close at 78,507 and the broader NSE Nifty moved up 98 points or 0.41 per cent to finish at 23,743.