Waaree Energies Soars with New Solar PV Module Order

Waaree Energies' stock surged over 7% after securing an order to supply up to 1 GW of solar PV modules to a domestic renewable firm. The company's share price increased significantly on both the NSE and BSE following the announcement. Deliveries are planned for FY25 and FY26.

Shares of Waaree Energies soared by more than 7% on Tuesday. This surge followed an announcement from the company about securing a major order to supply solar PV modules of up to 1 GW capacity to a domestic renewable energy firm.

The company's stock price climbed 7.2% to Rs 3,185 on the National Stock Exchange (NSE), and showed a similar gain of 7.18% on the Bombay Stock Exchange (BSE) trading at Rs 3,184.95 apiece.

In related indices, the BSE Sensex saw a modest rise of 48.43 points to 81,556.89, while the NSE Nifty increased by 5.45 points to 24,626.35. The secured order marks an important milestone for Waaree Energies with module supplies set to commence in fiscal years 2025 and 2026.

(With inputs from agencies.)