Waaree Energies Ltd Share Price – NSE /  BSE

Capital Goods - Electrical Equipment, Mid Cap

The domestic equity benchmarks traded with moderate losses in mid-morning trade. The Nifty slipped below the 23,950 mark after hitting the day's high of 24,065.80 in morning trade. Oil & gas shares advanced after declining in past four consecutive trading sessions.

At 11:29 IST, the barometer index, the S&P BSE Sensex, declined 167.57 points or 0.22% to 79,047.33. The Nifty 50 index lost 30.55 points or 0.13% to 23,921.15.

In the broader market, the S&P BSE Mid-Cap index declined 0.25% and the S&P BSE Small-Cap index fell 0.03%.

The market breadth was negative. On the BSE, 1,847 shares rose and 1,907 shares fell. A total of 155 shares were unchanged.

IPO Update:

The initial public offer (IPO) of Ventive Hospitality received bids for 6,23,277 shares as against 1,44,34,453 shares on offer, according to stock exchange data at 11:10 IST on 20 December 2024. The issue was subscribed to 0.04 times.

The issue opened for bidding on 20 December 2024 and it will close on 24 December 2024. The price band of the IPO is fixed between Rs 610 and Rs 643 per share. An investor can bid for a minimum of 23 equity shares and in multiples thereof.

The initial public offer (IPO) of Senores Pharmaceuticals received bids for 34,18,062 shares as against 85,34,681 shares on offer, according to stock exchange data at 11:10 IST on 20 December 2024. The issue was subscribed to 0.40 times.

The issue opened for bidding on 20 December 2024 and it will close on 24 December 2024. The price band of the IPO is fixed between Rs 372 and Rs 391 per share. An investor can bid for a minimum of 38 equity shares and in multiples thereof.

The initial public offer (IPO) of Carraro India received bids for 3,81,318 shares as against 1,30,98,803 shares on offer, according to stock exchange data at 11:10 IST on 20 December 2024. The issue was subscribed to 0.03 times.

The issue opened for bidding on 20 December 2024 and it will close on 24 December 2024. The price band of the IPO is fixed between Rs 668 and Rs 704 per share. An investor can bid for a minimum of 21 equity shares and in multiples thereof.

The initial public offer (IPO) of Sanathan Textiles received bids for 89,07,624 shares as against 1,26,22,950 shares on offer, according to stock exchange data at 11:10 IST on 20 December 2024. The issue was subscribed to 0.71times.

The issue opened for bidding on 19 December 2024 and it will close on 23 December 2024. The price band of the IPO is fixed between Rs 305 and Rs 321 per share. An investor can bid for a minimum of 46 equity shares and in multiples thereof.

The initial public offer (IPO) of DAM Capital Advisors received bids for 8,03,03,321 shares as against 2,08,04,632 shares on offer, according to stock exchange data at 11:10 IST on 20 December 2024. The issue was subscribed to 3.86 times.

The issue opened for bidding on 19 December 2024 and it will close on 23 December 2024. The price band of the IPO is fixed between Rs 269 and Rs 283 per share. An investor can bid for a minimum of 53 equity shares and in multiples thereof.

The initial public offer (IPO) of Transrail Lighting received bids for 4,10,79,616 shares as against 1,39,16,742 shares on offer, according to stock exchange data at 11:10 IST on 20 December 2024. The issue was subscribed to 2.95 times.

The issue opened for bidding on 19 December 2024 and it will close on 23 December 2024. The price band of the IPO is fixed between Rs 410 and Rs 432 per share. An investor can bid for a minimum of 34 equity shares and in multiples thereof.

The initial public offer (IPO) of Concord Enviro Systems received bids for 41,34,039 shares as against 50,15,356 shares on offer, according to stock exchange data at 11:10 IST on 20 December 2024. The issue was subscribed to 0.82 times.

The issue opened for bidding on 19 December 2024 and it will close on 23 December 2024. The price band of the IPO is fixed between Rs 665 and Rs 701 per share. An investor can bid for a minimum of 21 equity shares and in multiples thereof.

The initial public offer (IPO) of Mamata Machinery received bids for 11,62,58,131 shares as against 51,78,227 shares on offer, according to stock exchange data at 11:10 IST on 20 December 2024. The issue was subscribed to 22.45 times.

The issue opened for bidding on 19 December 2024 and it will close on 23 December 2024. The price band of the IPO is fixed between Rs 230 and Rs 243 per share. An investor can bid for a minimum of 61 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Oil & Gas index gained 0.86% to 10,878.25. The index fell 3.33% in past four consecutive trading sessions.

Aegis Logistics (up 7.80%), GAIL (India) (up 2.56%), Petronet LNG (up 2.27%), Indian Oil Corporation (up 1.21%), Bharat Petroleum Corporation (up 1.21%), Oil & Natural Gas Corpn (up 0.64%), Hindustan Petroleum Corporation (up 0.54%), Gujarat State Petronet (up 0.46%), Gujarat Gas (up 0.44%) and Reliance Industries (up 0.27%) advanced.

Stocks in Spotlight:

Waaree Energies declined 2.09%. The company announced that it’s wholly owned subsidiary, Waaree Solar Americas has started its trial production of 1.6 GW Solar Module line at its Unit situated at Brookshire, in the state of Texas, USA.

Knowledge Marine & Engineering Works rallied 4.63% after the company’s board will meet on Tuesday, 24 December 2024 to consider fund raising and stock split proposal.

Global Markets:

The Dow Jones index futures were down 90 points, signaling a negative opening for U.S. stocks today.

Asian stocks traded mixed on Friday as The People’s Bank of China held its loan prime rates steady on Friday, leaving the one-year rate unchanged at 3.1% and the five-year rate at 3.6%.

Investors awaited the release of the U.S. Personal Consumption Expenditure (PCE) price index, a key inflation gauge, for further insights into the Federal Reserve's monetary policy stance.

Meanwhile, Japan's consumer price index (CPI) rose slightly more than expected in November. Core CPI, which excludes volatile fresh food items, increased to 2.7% year-on-year, exceeding the previous month's 2.3%.

The Bank of Japan (BOJ) held interest rates steady on Thursday, its final meeting of the year, and provided limited clues on future rate hikes. However, the central bank projected a gradual increase in inflation over the next year.

In Europe, the Bank of England also kept its policy rate unchanged at 4.75% on Thursday.

U.S. stock indices closed mixed on Thursday after a sharp decline the previous day. Investors remained cautious about the Fed's hawkish stance and the potential impact on the economy. The S&P 500 and the Nasdaq Composite fell 0.1%, and the Dow Jones Industrial Average closed 0.04% higher.

The U.S. House of Representatives rejected a Republican-backed funding bill on Thursday, increasing the risk of a government shutdown as the current funding deadline approaches midnight on Friday.

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The official announcement was made after market hours on 19 December 2024.

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 the manufacture of solar photovoltaic modules, the setting up of projects in solar space, and the sale of electricity. The company operated five manufacturing facilities in India spread over an area of 143.01 acres. It operates one factory each located at Surat, Tumb; Nandigram, Chikhli in Gujarat, India; and the IndoSolar Facility in Noida, Uttar Pradesh.

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.

Shares of Waaree Energies declined 1.76% to currently trade at Rs 2,985 on the BSE.

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Waaree Energies has secured orders for 2 projects aggregating 398 MW, for the supply of solar modules. The orders are for projects of 249 MW and 149 MW, respectively, from a renowned customer engaged in the business of owning, developing and operating renewable power projects in India.

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The projects involve the supply of solar photovoltaic (PV) modules, with 298 MW allocated for one project and 149 MW for the other, aggregating to a total of 398 MW.

The supply of the solar modules is scheduled to begin in the fiscal year 2025-2026.

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 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.

The scrip slipped 1.82% to Rs 3,158.15 on the BSE.

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