Waaree Energies Soars on New Solar Module Order and Green Hydrogen Initiative
Key Ideas
- Waaree Energies experiences a 3% surge in share price following a new order for solar modules, reaching a high of Rs 2,319 in morning trading.
- The company secures a significant order for 362.5 MWp solar PV modules and a Notification of Award for setting up a Production Facility for Green Hydrogen in India.
- Financial results for Q3FY25 show a strong performance with a 296% YoY increase in net profit and a 117% YoY increase in revenue from operations.
- Despite recent volatility in share price, Waaree Energies continues to demonstrate growth potential with investments in green hydrogen, battery business, and renewable power infrastructure.
Waaree Energies witnessed a 3% surge in share price on February 20, driven by a new order win for solar modules. The company secured an order for 362.5 MWp solar PV modules from a prominent customer in India. Additionally, its subsidiary received a Notification of Award for establishing a Green Hydrogen production facility under the SIGHT Scheme. Although brokerage firm Nuvama has yet to rate Waaree Energies stock, they acknowledge the company's growth potential and investments in green initiatives. The company's Q3FY25 financial results revealed a remarkable performance with a 296% YoY increase in net profit and a 117% YoY increase in revenue. Despite recent share price volatility, Waaree Energies remains focused on expanding into green hydrogen, battery business, and renewable power infrastructure, showcasing a positive outlook for future growth and sustainability.
Topics
India
Renewable Energy
Stock Market
Financial Performance
Business Expansion
Market Capitalisation
Solar Modules
Brokerage Analysis
Latest News