28 Nov , 2024 By : Debdeep Gupta
Waaree Renewable Technologies' share price rose 5 percent in the early trade on November 28 and has received an order worth Rs 1,233 crore for the construction of a ground mount solar PV project.
At 09:23 am, Waaree Renewable Technologies was quoting at Rs 1,494.45, up Rs 71.15, or 5.00 percent, on the BSE.
"..... received a term sheet for the execution of engineering, procurement, and construction (EPC) works for ground mount solar PV project of 2012.47 MWp DC capacity," the company said.
Earlier in this month, the company received an order worth Rs 146.77 crore to set up a solar power project of 41.6 MW DC capacity at Cuddalore District in Tamil Nadu
In the quarter ended September 2024, the company had reported a muted 1 percent increase in revenue to Rs 3,574.37 crore. The net profit, however, surged 15 percent to Rs 361 crore.
Last month, Waaree Energies made a strong stock market debut after listing at Rs 2,500, commanding a solid premium of 66.3 percent over the issue price of Rs 1,503 per share on the National Stock Exchange (NSE).
Waaree Energies, one of the major players in the solar energy industry in India, is focused on PV module manufacturing with an aggregate installed capacity of 12 GW as of June 30, 2023. It operates five manufacturing facilities, with one factory each located at Surat, Tumb, Nandigram, and Chikhli in Gujarat, and the IndoSolar Facility in Noida, Uttar Pradesh.
The share touched a 52-week high of Rs 3,037.75 and a 52-week low of Rs 270.22 on 26 April 2024 and 30 November 2023, respectively.
Currently, the stock is trading 50.8 percent below its 52-week high and 453.05 percent above its 52-week low.
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