Waaree Renewable Technologies Ltd (WRTL) saw a 4.8% rise in its stock price after announcing a Letter of Award (LOA) from its promoter company, Waaree Energies Ltd. The contract involves Engineering, Procurement, and Construction (EPC) services, along with Operation and Maintenance (O&M) for a 170 MW AC / 255 MW DC ground-mount solar project.
The contract is valued at approximately ₹232.3 crore (excluding taxes) and is expected to be executed in the financial year 2025-26. WRTL will undertake the project on a turnkey basis, ensuring end-to-end execution.
Since Waaree Energies is the promoter of WRTL, this qualifies as a related party transaction. However, the company has assured investors that the deal follows arm’s length principles and complies with regulatory norms.
Waaree Renewable Technologies’ shares opened at ₹943.00 on Wednesday, hitting a high of ₹973.10 and a low of ₹935.40 during the session. The stock remains significantly below its 52-week high of ₹3,037.75 but above its 52-week low of ₹759.00.
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