Waaree Renewable Technologies shares gain 2% as firm announces fresh acquisition 

Shares of Waaree Renewable Technologies Ltd rose 2% in early deals on Tuesday after the solar energy firm said it would ink a binding term sheet for acquisition of 55% stake in Associated Power Structures Limited (ASPL) for Rs 1,225 crore. 

Waaree Renewable stock gained 2% to Rs 896 in early deals today against the previous close of Rs 878.25. Market cap of the firm stood at Rs 9,201 crore. 

Total 0.34 lakh shares of the firm changed hands amounting to a turnover of Rs 3.01 crore. 

Waaree Renewable stock is trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day simple moving averages.

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Associated power Structures Limited was established in 1996. The company is in the business of Power transmission and distribution into infrastructure sector. After the acquisition of shares, Associated Power Structures Limited will become a subsidiary of Waaree Renewable Technologies.

Waaree Renewable said the transaction would not be a related party transaction and none of the promoter/promoter group/ group companies have any interest in the entity being acquired. 

The acquisition is to be completed by April 30, 2026. 

Waaree Renewable said the investment is part of its strategic initiative to expand its presence and strengthen its capabilities across the renewable energy and energy efficiency ecosystem. APSL operates in a complementary sector aligned with WRTL’s long-term vision of integrated clean energy solutions.