Waaree Energies shares jump over 4% as US subsidiary secures 599 MW solar module order
Shares of
Waaree Energies
rose over 4% to Rs 2,955 in Wednesday's trade on the BSE after its wholly-owned subsidiary,
Waaree Solar Americas
, secured a major order for 599 MW of solar modules from a leading international client.
In a regulatory filing, the company said, 'Waaree Solar Americas, a wholly-owned subsidiary of the company, has received an order for the supply of 599 MW solar modules from a well-known customer engaged in the development and operation of utility-scale solar and energy storage projects across the United States.'
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
She Was The Dream Girl In The 80s, This Is Her Recently
WomenSportOnline.com
Undo
The stock saw strong price action and heavy trading volumes. Around 1.71 lakh shares were traded on the BSE, significantly higher than the two-week average volume of 1.41 lakh shares.
Also Read:
SBI, Bank of Baroda among 10 banks that saw NPA decline in Q4
Earlier in May, the company announced board approval to acquire Kamath Transformers Private Ltd for Rs 293 crore. Kamath Transformers is involved in the manufacturing of transformers.
Live Events
'This acquisition is part of the company's business expansion plans,' Waaree Energies said in an exchange filing.
Additionally, the board approved the acquisition of Green New Delhi Forever Energy Private Limited by Waaree Forever Energies Private Limited, a wholly-owned subsidiary. The deal will be executed at Rs 1 lakh per share, with a face value of Rs 10 each. Both acquisitions are expected to be completed in FY26 and will be entirely funded through cash consideration.
Also Read:
Civil War has begun! Rich Dad Poor Dad author Robert Kiyosaki warns of global chaos, backs Bitcoin as the only safe haven
Waaree Energies share price target
According to Trendlyne, the average target price for Waaree Energies is Rs 2,602, indicating a potential downside of around 11% from current levels. The stock holds a 'Sell' rating based on recommendations from four analysts.
On the technical front, the stock's Relative Strength Index (RSI) stands at 53, indicating neutral momentum. (An RSI above 70 is considered overbought, while below 30 is oversold.) The MACD is at 78.7—above the center line, but below the signal line.
The stock is currently trading above all key moving averages, including the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, and 150-day simple moving averages (SMAs), reinforcing the positive trend.
Waaree Energies share price performance
Waaree Energies has gained 12% over the past month and 38% in the last three months. Its current market capitalisation stands at Rs 83,793 crore.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
38 minutes ago
- India Today
Samsung Galaxy S24 price drops by Rs 36,600
Samsung Galaxy S24 price drops by Rs 36,600 By Ankita Garg The Samsung Galaxy S24 is available on Amazon with a massive discount offer, that too without any terms or conditions. Amazon is not even running any sale and is directly offering a big discount on it. The Samsung Galaxy S24 is currently listed on Amazon at a discounted price of Rs 43,397. (Marble Gray colour model) To recall, the Samsung Galaxy S24 was launched in India at a starting price of Rs 79,999. This means that consumers are getting a flat discount of Rs 36,602 without any terms or conditions. At the moment, there is no bank offer available, but the deal is already quite attractive for those who have been planning to buy this at a lower price. It is worth noting that the mentioned offer is for the 128GB storage model. Other storage models have also received discounts on Amazon. The Galaxy S24 comes in four colour variants: Amber Yellow, Cobalt Violet, Marble Grey, and Onyx Black. Since this is a flagship, you can expect powerful performance out of the box, be it gaming or general tasks. The Galaxy S24 has a 6.4-inch display, which is great for binge watching and quite bright outdoors. The colours are rich and the panel has minimal bezels around it. For your reference, the Galaxy S24 is powered by Samsung Exynos 2400 SoC and a 4,000mAh battery.
Time of India
42 minutes ago
- Time of India
Kochi corporation kicks off drive to relocate street vendors
Kochi: In a bid to regulate street vending and ease traffic and pedestrian congestion, Kochi Corporation has initiated steps to relocate street vendors to designated vending zones. The process will begin next week, starting with vendors operating along Shanmugham Road. Corporation officials said that notices will be issued to these vendors, asking them to shift to the identified vending zone on Abraham Madamakkal Road. Those who fail to comply will be evicted with the support of the police. "The corporation will provide kiosks to all the vendors. We have identified vending zones across the city to relocate them. This initiative aims to improve urban aesthetics while ensuring that vendors' livelihoods are protected," said a senior corporation official. After the new council assumed office in 2020, an initial survey was carried out to identify street vendors across the city. Based on this, temporary licences were granted. Later, re-surveys were conducted under the leadership of Kudumbashree and the Centre for Socio-Economic-Environmental Studies (CSES) to identify more eligible vendors. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy Brass Idols - Handmade Brass Statues for Home & Gifting Luxeartisanship Buy Now Undo As a result, 2,351 vendors were approved through the town vending committee (TVC) following several verification processes. The corporation entrusted CSES with preparing the vending plan, which proposed 69 vending zones. These zones were approved by the TVC and the corporation council before being submitted to the state govt. In 2024, the Kerala govt officially approved the street vending zones and the supporting bylaw. However, concerns remain about the implementation. "While relocating vendors, the corporation must ensure that vacated spaces are not reoccupied by new vendors. Without strict enforcement, this move will fail to achieve its objective," said MG Aristotle, secretary of the UDF parliamentary party in the corporation. Lack of adequate space is another major challenge. Aristotle pointed out that the corporation had previously promised to relocate around 40 vendors from outside Ernakulam Market to within the market premises. "That promise remains unfulfilled. These vendors are still outside the market," he said. In Fort Kochi and adjacent divisions, the number of vendors identified officially is around 300, but more than 300 vendors are operating along the Fort Kochi Beach alone. Addressing such inconsistencies will be critical as the corporation rolls out its vendor rehabilitation programme. Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
Time of India
an hour ago
- Time of India
DCM Shriram to buy Hindusthan Specialty Chemicals
Representative image NEW DELHI: DCM Shriram on Thursday said its board has approved a definitive agreement to acquire Hindusthan Specialty Chemicals for Rs 375 crore, marking its strategic entry into the advanced materials segment. The buyout of unlisted subsidiary of Hindusthan Urban Infrastructure is subject to regulatory approvals. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
