Waaree Energies shares jump over 4% as US subsidiary secures 599 MW solar module order

Shares of Waaree Energies rose over 4% to Rs 2,955 in Wednesday’s trade on the BSE after its wholly-owned subsidiary, Waaree Solar Americas, secured a major order for 599 MW of solar modules from a leading international client.

In a regulatory filing, the company said, “Waaree Solar Americas, a wholly-owned subsidiary of the company, has received an order for the supply of 599 MW solar modules from a well-known customer engaged in the development and operation of utility-scale solar and energy storage projects across the United States.”

The stock saw strong price action and heavy trading volumes. Around 1.71 lakh shares were traded on the BSE, significantly higher than the two-week average volume of 1.41 lakh shares.


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Earlier in May, the company announced board approval to acquire Kamath Transformers Private Ltd for Rs 293 crore. Kamath Transformers is involved in the manufacturing of transformers.

“This acquisition is part of the company’s business expansion plans,” Waaree Energies said in an exchange filing.

Additionally, the board approved the acquisition of Green New Delhi Forever Energy Private Limited by Waaree Forever Energies Private Limited, a wholly-owned subsidiary. The deal will be executed at Rs 1 lakh per share, with a face value of Rs 10 each. Both acquisitions are expected to be completed in FY26 and will be entirely funded through cash consideration.

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Waaree Energies share price target

According to Trendlyne, the average target price for Waaree Energies is Rs 2,602, indicating a potential downside of around 11% from current levels. The stock holds a ‘Sell’ rating based on recommendations from four analysts.

On the technical front, the stock’s Relative Strength Index (RSI) stands at 53, indicating neutral momentum. (An RSI above 70 is considered overbought, while below 30 is oversold.) The MACD is at 78.7—above the center line, but below the signal line.

The stock is currently trading above all key moving averages, including the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, and 150-day simple moving averages (SMAs), reinforcing the positive trend.

Waaree Energies share price performance

Waaree Energies has gained 12% over the past month and 38% in the last three months. Its current market capitalisation stands at Rs 83,793 crore.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)