In Short : Waaree Renewable Technologies’ board has approved plans to list its shares on the National Stock Exchange (NSE), pending regulatory approvals. The company’s shares closed slightly lower on the announcement. Waaree has seen substantial growth, with a 249.5% revenue increase and 160.52% profit rise in Q2 2024-25, and has installed over 1.82 GW of solar projects.
In Detail : Shares of Waaree Renewable Technologies Ltd rose 3% in the afternoon session today after the firm said its board approved the listing of its equity shares on National Stock Exchange of India (NSE) subject to regulatory approvals.
Waaree Renewable Technologies shares rose 2.72% to Rs 1448 against the previous close of Rs 1410.35. Market cap of the firm stood at Rs 14,550 crore on BSE.
Total 1.84 lakh shares of Waaree Renewable changed hands amounting to a turnover of Rs 25.89 crore. The share hit a 52-week high of Rs 3037.75 on April 26, 2024 and 52 week low of Rs 320 on 21 December 2023.
The share trades lower than the 10 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock has gained 313% in one year and risen 1286% in two years.
In six months, the stock has fallen up 32.17%.
“This is to inform you that the Board of Directors of the Company at its Meeting held today i.e., Thursday, December 19, 2024 interalia have
1.Considered and approved the listing of its Equity Shares on National Stock Exchange of India Limited (NSE) subject to regulatory approvals.
2. Approved the Postal Ballot Notice to seek approval of the shareholders for the following:
A. Approval of material Related Party Transactions with Waaree Forever Energies Private Limited which is Subsidiary of Waaree Energies Limited (Parent Company),” said the firm.
Waaree Renewable is engaged in the business of generation of power through renewable energy sources and also providing Engineering, procurement, and construction (EPC) services in this regard. It has its registered office in Mumbai and its energy generation site is located in state of Maharashtra.
