Shares of Waaree Renewable Technologies Limited surged more than 5% in early trade on March 11 after the company announced a major engineering, procurement and construction (EPC) contract for a large-scale solar power project.
The company has been awarded a contract for the execution of EPC works for a ground-mounted solar PV plant with a capacity of 300 MWac / 420 MWp. The project has been awarded by a domestic renewable power generation company and is scheduled to be completed during FY2027–28.
According to the company, the agreement covers the development of the solar plant under standard commercial terms. The order represents a significant project scale, with total capacity reaching 300 MWac / 420 MWp, strengthening the company’s EPC order book in the renewable energy segment.
Waaree Renewable Technologies, a subsidiary of Waaree Energies Limited, also clarified that the contract does not involve any related party transaction and is not linked to the promoter group or group companies.
Following the announcement, the stock moved sharply higher in early trade. As of 9:28 AM IST, the stock traded between ₹817.10 and ₹852.85 during the session. The stock had opened at ₹817.10 compared with the previous close of ₹797.25. The stock’s 52-week range stands between ₹786.35 and ₹1,358.00.