Waaree Energies Ltd Share Price – NSE /  BSE

Capital Goods - Electrical Equipment, Mid Cap

The key equity indices ended with moderate gains on Tuesday, snapping its seven days declining streak. The Nifty settled above the 23,500 level. Media, realty and auto shares advanced while metal, PSU bank and oil & gas stocks declined.

As per provisional closing data, the barometer index, the S&P BSE Sensex rose 239.37 points or 0.31% to 77,578.38. The Nifty 50 index added 64.70 points or 0.28% to 23,518.50. The 50-unit index dropped 4.21% in past seven consecutive trading sessions.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.94% and the S&P BSE Small-Cap index rallied 0.90%.

The market breadth was positive. On the BSE, 2,350 shares rose and 1,615 shares fell. A total of 94 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, advanced 3.26% to 15.66.

Stock market will remain closed tomorrow on account of Maharashtra State Assembly Elections.

IPO Update:

The initial public offer (IPO) of NTPC Green Energy received bids for 17,81,58,138 shares as against 59,31,67,575 shares on offer, according to stock exchange data at 11:15 IST on 19 November 2024. The issue was subscribed 0.30 times.

The issue opened for bidding on 19 November 2024 and it will close on 22 November 2024. The price band of the IPO is fixed between Rs 102 to Rs 108 per share. An investor can bid for a minimum of 138 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Media index jumped 2.45% to 1,945.40. The index slipped 1.42% in the past trading session.

Zee Entertainment Enterprises (up 6.54%), PVR Inox (up 2.66%), Sun TV Network (up 2.18%), Hathway Cable & Datacom (up 1.05%), Tips Music (up 0.93%), Nazara Technologies (up 0.78%), Den Networks (up 0.74%), Dish TV India (up 0.56%), Saregama India (up 0.29%) advanced.

Zee Entertainment Enterprises jumped 6.54% after announcing a leadership rejig.

Punit Goenka, the company's managing director, has stepped down from his position to focus solely on his role as CEO. This decision, according to the company, is aimed at enhancing operational focus and driving growth across core business segments.

Additionally, Mukund Galgali, the company's chief financial officer, will also assume the role of deputy CEO, effective immediately. He will continue to report to Goenka.

Stocks in Spotlight:

Indian Hotels Company (IHCL) jumped 2.18% after unveiling its ambitious 'Accelerate 2030' strategy. The strategy aims to double consolidated revenue, grow its hotel portfolio to 700+, and expand its brand presence. Key growth drivers include traditional businesses, management fees, and new and re-imagined businesses.

Traditional businesses will be enabled by RevPAR leadership, asset management initiatives and inventory expansion of existing assets. Management fee is expected to cross Rs 1,000 crore by 2030, led by not like for like growth and increasing share of managed inventory.

GMR Airports Infrastructure advanced 2.75% after the company reported a 9% year on year (YoY) increase in passenger traffic across all GMR airports, reaching over 10.7 million passengers in October 2024.

ITI shed 0.65%. The company said that it has received a contract worth Rs 95 crore from Directorate of Geology & Mining, Government of Uttarakhand, for Mining Digital Transformation & Surveillance System (MDTSS) project.

Akums Drugs and Pharmaceuticals was locked in upper circuit of 5% after the company entered into an exclusive master sales agreement with Caregen, a South Korean company in the nutraceuticals segment, to sell Caregen's range in India.

Havells India added 0.88%. The company decided to set up facility for manufacturing refrigerators in Ghiloth, Rajasthan.

NBCC (India) shed 0.84%. The company announced that it has received multiple orders from ST & SC Development, Minorities and Backward Classes Welfare Department aggregating to Rs 112 crore.

Waaree Energies dropped 7.43%. The company reported 14.77% increase in consolidated net profit to Rs 361.65 crore in Q2 FY25 as against Rs 315.09 crore posted in Q2 FY24. Revenue from operations rose 1.04% year on year (YoY) to Rs 3,574.38 crore in the quarter ended 30 September 2024.

Easy Trip Planners rose 0.40%. The company’s board fixed Thursday, 8 November 2024 as the record date for the proposed bonus issue of equity shares.

V-Mart Retail declined 0.82%. The company informed that a fire accident occurred at one of its stores located in Ahmedabad, Gujarat, on Monday, 18 November 2024.

Manba Finance advanced 1.60% after the company announced the signing of a memorandum of understanding (MoU) with Piaggio Vehicles to offer customized financing solutions for three-wheelers.

Godavari Biorefineries slipped 3.74% after the company’s consolidated net loss increased to Rs 74.99 crore in Q2 FY25 from net loss of Rs 65.14 crore posted in Q2 FY24. Revenue from operations declined 33.73% YoY to Rs 320.05 crore in the quarter ended 30 September 2024.

PG Electroplast surged 7.27% after the company informed that its wholly owned subsidiary, PG Technoplast has signed a definitive agreement with Spiro Mobility to manufacture electric vehicles (EVs) of Spiro Mobility (Spiro) in India.

Global Markets:

The Dow Jones index futures dropped 244 points, signaling a weak opening for U.S. stocks today.

European stocks declined on Tuesday as investors remained cautious ahead of key data releases and earnings reports.

The euro area annual inflation rate fell to 1.7% in September 2024, down from 2.2% in August 2024. In September 2023, the rate was 4.3%. Meanwhile, annual inflation in the European Union decreased to 2.1% in September 2024, compared to 2.4% in August. A year earlier, the inflation rate for the EU stood at 4.9%. These figures were released by Eurostat, the statistical office of the European Union.

Asian shares ended higher on Tuesday, boosted by a strong performance from Tesla on Wall Street overnight. Investors also closely analyzed remarks by Chinese financial policymakers at an investment summit in Hong Kong.

Chinese Vice Premier He Lifeng said at a global financiers summit in Hong Kong that China will support Hong Kong innovation and financial reform, enhancing the city’s “financial competitiveness.” He reiterated Beijing’s commitment to “explore and implement” measures aimed at building Hong Kong as an “international financial center.”

The probability of a rate cut at the December Fed meeting has decreased in recent days, as resilient economic data and potential inflationary pressures from the new administration’s policies could limit the scope for easing.

US stocks closed mixed on Monday. While the Dow Jones Industrial Average slipped 0.13%, the S&P 500 gained 0.39%, and the Nasdaq Composite Index rose by 0.60%.

Tesla shares surged over 5% following reports of the incoming administration's focus on autonomous vehicle development. NVIDIA stock closed 1% lower amidst reports of overheating issues with its upcoming AI chips, ahead of its third-quarter earnings report on Wednesday.

The upcoming week's US economic calendar is relatively light, with the key focus being the manufacturing and service sector PMI data due out on Friday. The National Association of Homebuilder's reported its housing market index for November rose to a reading of 46 versus 43 last month.

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The key equity indices traded in a narrow range with major gains in the afternoon trade. The Nifty traded near the 23,750 mark. All the sectoral indices on the NSE traded in the green, with media, auto and realty stocks gaining the most.

At 13:28 IST, the barometer index, the S&P BSE Sensex, climbed 989.79 points or 1.28% to 78,328.80. The Nifty 50 index soared 295.25 points or 1.26% to 23,749.05.

In the broader market, the S&P BSE Mid-Cap index rallied 1.76% and the S&P BSE Small-Cap index jumped 1.81%.

The market breadth was strong. On the BSE, 2,860 shares rose and 1,020 shares fell. A total of 110 shares were unchanged.

Gainer & Losers:

Mahindra & Mahindra (up 4.81%), Trent (up 3.69%), Tech Mahindra (up 3.50%), Tata Motors (up 3.17%) and Dr. Reddy’s Laboratories (up 2.92%) were major Nifty gainers.

SBI Life Insurance Company (down 3.70%), HDFC Life Insurance Company (down 3.14%), Bajaj Finserv (down 1.58%), Shriram Finance (down 1.24%) and State Bank of India (down 0.58%) were major Nifty losers.

Stocks in Spotlight:

Waaree Energies slipped 3.67%. The company’s consolidated net profit jumped 14.8% to Rs 361.65 crore on 1% increase in revenue from operations to Rs 3,574.38 crore in Q2 FY25 over Q2 FY24.

Zee Entertainment Enterprises jumped 7.66% after the company’s board accepted the resignation of Punit Goenka as managing director of the company and appointed him as chief executive officer (CEO). Further, the board approved designating Mukund Galgali, chief financial officer (CFO) as deputy chief executive officer of the company.

PG Electroplast soared 10.22% after the company informed that its wholly owned subsidiary, PG Technoplast has signed a definitive agreement with Spiro Mobility to manufacture electric vehicles (EVs) of Spiro Mobility in India.

Shilpa Medicare rallied 2.81% after the company’s 100% subsidiary, Shilpa Pharma Lifesciences received certificate of suitability (CEP) from EDQM (European Directorate for the Quality of Medicines & Healthcare) for its API, Octreotide.

Meanwhile, Shilpa Pharma Lifesciences also received certificate of suitability (CEP) from EDQM (European Directorate for the Quality of Medicines & Healthcare) for API, Nifedipine.

Global Markets:

Stocks in Europe and Asia traded higher on Tuesday as investors awaited key cabinet appointments from the incoming Trump administration. Meanwhile, market participants monitored shifts in US Federal Reserve policy expectations.

The probability of a rate cut at the December Fed meeting has decreased in recent days, as resilient economic data and potential inflationary pressures from the new administration’s policies could limit the scope for easing.

US stocks closed mixed on Monday. While the Dow Jones Industrial Average slipped 0.13%, the S&P 500 gained 0.39%, and the Nasdaq Composite Index rose by 0.60%.

Tesla shares surged over 5% following reports of the incoming administration's focus on autonomous vehicle development. NVIDIA stock closed 1% lower amidst reports of overheating issues with its upcoming AI chips, ahead of its third-quarter earnings report on Wednesday.

The upcoming week's US economic calendar is relatively light, with the key focus being the manufacturing and service sector PMI data due out on Friday. The National Association of Homebuilder's reported its housing market index for November rose to a reading of 46 versus 43 last month.

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Revenue from operations rose 1.04% year on year (YoY) to Rs 3,574.38 crore in the quarter ended 30 September 2024.

As compared to Q1 FY25, the company's net profit decreased by 8.24% while revenue increased by 4.85% in Q2 FY25.

Profit before tax stood at Rs 498.84 crore in the quarter ended 30 September 2024, up 14.77% as against Rs 434.64 crore recorded in Q2 FY24.

The company’s EBITDA jumped by 14.01% to Rs 613.93 crore in Q2 FY25 from Rs 538.50 crore recorded in same quarter last year. EBITDA margin improved to 16.76% in Q2 FY25 as against 15.13% recorded in Q2 FY24.

On half-year basis, the company's consolidated net profit rose 16.07% to Rs 755.79 crore on 1.71% increase in revenue to Rs 6,983.28 crore in H1 FY25 over H1 FY24.

As of 30 September 2024, the company’s order book stands at an impressive approximately 20 GW.

Meanwhile, the company’s board has approved an investment up to Rs 600 crore for setting up and development of infrastructure (including land and connectivity) for the purpose of developing Renewable Power projects and bidding pipeline.

Waaree Energies is the largest manufacturer of solar PV modules in India with the largest aggregate installed capacity of 12 GW. Presently, it is engaged in manufacture of Solar Photo-voltaic Modules, setting up of Projects in solar space and sale of electricity. The company operated five manufacturing facilities in India spread over an area of 143.01 acres. It operate one factory each located at Surat, Tumb; Nandigram, Chikhli in Gujarat, India and the IndoSolar Facility, in Noida, Uttar Pradesh.

The scrip slipped 3.48% to Rs 3,007 on the BSE.

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The frontline indices traded with substantial gains in early trade. The Nifty traded above the 23,600 level. All the sectoral indices on NSE traded in the green with media, realty and oil & gas shares gaining the most.

At 09:26 IST, the barometer index, the S&P BSE Sensex rose 552.83 points or 0.71% to 77,891.84. The Nifty 50 index gained 168.55 points or 0.72% to 23,622.35.

In the broader market, the S&P BSE Mid-Cap index rose 0.74% and the S&P BSE Small-Cap index jumped 1.31%.

The market breadth was strong. On the BSE, 2,311 shares rose and 488 shares fell. A total of 92 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,403.40 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,330.56 crore in the Indian equity market on 18 November 2024, provisional data showed.

Stocks in Spotlight:

Waaree Energies slipped 3.96%. The company’s consolidated net profit jumped 14.8% to Rs 361.65 crore on 1% increase in revenue from operations to Rs 3,574.38 crore in Q2 FY25 over Q2 FY24.

Zee Entertainment Enterprises jumped 6.93% after the company’s board has accepted resignation of Punit Goenka as managing director of the company and appointed him as chief executive officer (CEO). Further board approved to designate Mukund Galgali, chief financial officer (CFO) as deputy chief executive officer of the company.

ITI shed 0.15%. The company has received a contract worth Rs 95 crore from the Directorate of Geology and Mining, Government of Uttarakhand, for the mining digital transformation and surveillance system in Uttarakhand.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.11% to 6.927 as compared with previous close 6.935.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 84.4025, compared with its close of 84.4200 during the previous trading session.

MCX Gold futures for 5 December 2024 settlement rose 0.52% to Rs 75,434.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.10% to 106.17.

The United States 10-year bond yield shed 0.16% to 4.407.

In the commodities market, Brent crude for January 2024 settlement gained 18 cents or 0.25% to $73.48 a barrel.

Global Markets:

Asian stocks climbed on Tuesday as investors awaited key cabinet appointments from the incoming Trump administration. Meanwhile, market participants monitored shifts in US Federal Reserve policy expectations.

The probability of a rate cut at the December Fed meeting has decreased in recent days, as resilient economic data and potential inflationary pressures from the new administration’s policies could limit the scope for easing.

US stocks closed mixed on Monday. While the Dow Jones Industrial Average slipped 0.13%, the S&P 500 gained 0.39%, and the Nasdaq Composite Index rose by 0.60%.

Tesla shares surged over 5% following reports of the incoming administration's focus on autonomous vehicle development. NVIDIA stock closed 1% lower amidst reports of overheating issues with its upcoming AI chips, ahead of its third-quarter earnings report on Wednesday.

The upcoming week's US economic calendar is relatively light, with the key focus being the manufacturing and service sector PMI data due out on Friday. The National Association of Homebuilder's reported its housing market index for November rose to a reading of 46 versus 43 last month.

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