INSUBCONTINENT EXCLUSIVE:
Shares of Waaree Renewable Technologies surged as much as 5.2% on Thursday to Rs 1,265.80, extending their three-day rally to 29.8%, as
two sessions, reclaimed the Rs 1,200 level for the first time in months, driven by renewed optimism around earnings and improving sentiment
in the renewable energy sector
Waaree has now surged 23% so far in July, offsetting losses from the prior month and continuing a recovery that began in May.Despite the
recent gains, shares remain nearly 39% below their 52-week high of Rs 2,074.95 hit in September 2024 and continue to trade below the IPO
Waaree Renewable informing exchanges on Monday that its board will meet on Thursday to consider the unaudited standalone and consolidated
financial statements for the June quarter.
Live EventsThe update comes after a strong showing in Q4FY25, when the company posted an 83%
year-on-year jump in consolidated net profit to Rs 93.76 crore, alongside a 74% surge in total revenue to Rs 476.57 crore
Growth was led by the core EPC business, which contributed Rs 469.72 crore, up 76% from the year-ago period, while revenue from power sales
remained flat at Rs 6.85 crore.Technical indicators turn favourableThe rally has also been underpinned by positive technical signals
The stock is currently trading above all eight key simple moving averages, from the 5-day to the 200-day, indicating strength across
The Relative Strength Index stands at 66.2, and the MACD at 96.6, both reflecting bullish momentum.Also read | MobiKwik shares down 61% from
peak, charts hint at upside till Rs 300
Should you buy?Broader market sentiment around renewable energy names has turned more constructive in recent weeks, with investors betting
on strong execution and long-term policy tailwinds across the clean energy value chain.(Disclaimer: Recommendations, suggestions, views and
opinions given by the experts are their own
These do not represent the views of the Economic Times)
