Waaree Energies shares surge another 4% on securing 1 GW solar module supply order

Waaree Energies Limited experienced a notable uptick in its stock price, gaining over 4% today, following the announcement of a substantial domestic order for the supply of 1 GW solar photovoltaic (PV) modules, yesterday on December 9 near the closing hour of market session. The order, secured from a leading renewable energy developer in India, further cements Waaree’s stronghold in the solar energy industry.

Key Highlights:

1. Order Details: The 1 GW solar PV module supply order represents a significant milestone in Waaree’s operations.
2. Execution Timeline: The supply is scheduled to span fiscal years FY 2024-25 and FY 2025-26.
3. Transparency: Waaree Energies confirmed that the deal complies with arm’s length principles, with no related party involvement.
4. Business Expansion: The company continues to specialize in solar panel manufacturing, engineering, procurement, and construction (EPC) services, alongside power generation.

 

The company’s shares were trading at ₹3,096.15 as of today’s session, marking a 4.20% increase, reflecting investor confidence in its ability to deliver on this significant order.