Latest news with #Indosolar
Economic Times
6 days ago
- Business
- Economic Times
Waaree Energies shares in focus as company to offload 1.15% stake in Indosolar via OFS
Shares of Waaree Energies are set to be in focus on Thursday after the renewable energy company announced plans to sell 4,76,495 equity shares of Indosolar Ltd, representing 1.15% of the latter's total paid-up equity capital, through an offer for sale (OFS) to comply with minimum public shareholding norms. ADVERTISEMENT In a regulatory filing, Waaree Energies stated:'We hereby notify you that the Seller (Waaree Energies) proposes to sell up to 4,76,495 equity shares of face value Rs 10 each of Indosolar (representing 1.15% of the total paid-up equity share capital of the Company) on June 5, 2025 (T-day) for Non-Retail Investors, and on June 6, 2025 (T+1 day) for Retail Investors. These will hereinafter be referred to as 'Sale Shares' (OFS).' The sale will be conducted via the OFS mechanism on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). All eligible bidders will be allotted OFS equity shares at a floor price of Rs 10 per share, the company added. The company is among India's leading renewable energy firms, with a global installed capacity of 15 gigawatts (GW) for solar photovoltaic modules. This includes 1.3 GW from Indosolar and 1.6 GW from its Texas-based facility in the United States. It also operates a 1.4 GW solar cell manufacturing unit, with plans to expand by an additional 5.4 week, the clean energy player secured $176 million from a U.S.-based independent power producer to supply 586 MW of solar modules. Waaree Solar Americas' Texas facility will manufacture the modules for four projects, scheduled for delivery in FY26–27. ADVERTISEMENT 'This agreement reflects Waaree's unwavering commitment to building a resilient, robust, and technologically advanced clean energy supply chain in the U.S.,' said Sunil Rathi, President, Waaree Solar Performance and Technicals Shares of Waaree Energies have gained nearly 6% over the past six months and are up 36.6% in the last three months. In the past week alone, the stock has advanced 3%. ADVERTISEMENT Technically, the stock is trading above four key simple moving averages (20-day, 30-day, 50-day, and 100-day). The Relative Strength Index (RSI) stands at 55.9, indicating the stock is neither overbought nor oversold. The Moving Average Convergence Divergence (MACD) is at 87.8—above the center line but below the signal line. Also read | Why are more promoters pledging their shares in Nifty 500 companies? (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Mint
6 days ago
- Business
- Mint
Stocks to watch: Vedanta, BEL, Yes Bank, REC, Power Grid among shares in focus today
The company announced that its renewable energy capacity has reached 1.03 GW and it is progressing steadily toward its goal of achieving 2.5 GW of green energy by 2030. This milestone was achieved by scaling up its round-the-clock renewable power capacity through power supply agreements. Clean energy player, promoter of Indosolar Ltd, will sell up to 4,76,495 equity shares, representing 1.15% of Indosolar's total paid-up equity capital, through an offer for sale (OFS) on June 5 and 6, 2025. Gland Pharma announced that its key subsidiary, Cenexi, has received the final inspection report from France's drug regulatory authority, ANSM, which includes 11 observations. A private sector bank reported that CA Basque Investments, a Mauritius-based special purpose vehicle owned by the Carlyle Group, has sold 2.62% of its shares in the bank, bringing its overall holding down to 4.22%. According to official data released last evening, Sunil Singhania's Abakkus Emerging Opportunities Fund was among the purchasers in the block deal involving Indegene Ltd. that occurred on Wednesday, June 4. The Maharatna public sector enterprise announced that its board has given the green light to a plan for raising up to ₹ 1.55 lakh crore via private placement of bonds or debentures. Bharat Electronics Ltd (BEL) has revealed that it has secured new orders totaling ₹ 537 crore since its previous announcement on May 16. The state-run Power Grid Corporation has taken over MEL Power Transmission Ltd (MPTL), a special purpose vehicle, for a sum of ₹ 8.53 crore. KEC International Ltd announced in a regulatory filing on Wednesday that it has received new orders totaling ₹ 2,211 crore across its transmission and distribution, oil and gas pipeline, and cables divisions. NTPC Green Energy Ltd, a subsidiary of NTPC Ltd, has secured a 1,000 MW allocation in the solar PV power project auction conducted by Uttar Pradesh Power Corporation Limited (UPPCL). Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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Business Standard
30-05-2025
- Business
- Business Standard
Waaree secures $176 million deal to supply 586 MW solar modules in US
Waaree Energies on Friday said it has signed a USD 176 million agreement with a US-based independent power producer to supply 586 MW solar modules. The modules will be manufactured at Waaree Solar Americas' facility in Brookshire, Texas, and are scheduled for delivery during FY 202627 across four projects, a company statement said. "This agreement reflects Waaree's unwavering commitment to building a resilient, robust, and technologically advanced clean energy supply chain in the US," said Sunil Rathi, President, Waaree Solar Americas. In January, Mumbai-headquartered Waaree Energies announced starting commercial production of solar modules at its manufacturing facility in the US. Waaree Energies is India's leading renewable energy company having an installed capacity of 15 GW for solar PV modules globally (including 1.3 GW of Indosolar and 1.6 GW in Texas, USA). The company also has 1.4 GW of cell manufacturing facility with an expansion capacity of 5.4 GW. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
