The shares of this small-cap inventory, offering EPC companies within the renewable vitality sector got here into focus after bagging an EPC Challenge for 40 MWh Battery Storage for a consideration of ~Rs 40 crores.
Value Motion
With a market capitalization of Rs 9,256.57 crore, Waaree Renewable Applied sciences Ltd jumped 3 p.c on Thursday’s buying and selling session and made an intraday excessive of Rs 912.00 per share in comparison with its earlier closing worth of Rs 878.10 per share.
The inventory retraced from its day’s excessive and was buying and selling at Rs 888 which is 1 p.c larger than the earlier closing worth.
What Occurred
Waaree Renewable Applied sciences Ltd was awarded a home order from an Unbiased Energy Producer. This contract entails the execution of EPC work for a 40MWh battery storage system for a consideration of ~Rs 40 crore, and is scheduled to be accomplished within the monetary yr 2025-26.
Additionally learn: Inventory beneath ₹100 hits 5% higher circuit after receiving ₹7 Cr order from BEML
Firm Overview
Waaree Renewable Applied sciences Ltd is an Indian EPC firm specialising within the enterprise renewable vitality sector. The corporate is a photo voltaic developer that funds, constructs, owns, and operates varied photo voltaic tasks. It delivers clear vitality to shoppers by establishing each on-site photo voltaic installations and off-site photo voltaic farms.
Main shoppers embody Reliance, Aditya Birla, NTPC and Adani amongst many others. The corporate has commissioned over 178 rooftop tasks totalling over 50 MW and manages an O&M portfolio exceeding 587 MW. Moreover, it has 2.29 MW in floating photo voltaic tasks and an in-house R&D group devoted to the event of recent know-how.
Financials
The corporate’s income stands at Rs 360 crore in Q3 FY25, up by 11 p.c yr on yr. Nevertheless, there was a 16 p.c year-on-year decline in web income to Rs 54 crore throughout the identical interval.
Written by Shwetha Sairam
Disclaimer
The views and funding ideas expressed by funding consultants/broking homes/ranking companies on tradebrains.in are their very own, and never that of the web site or its administration. Investing in equities poses a danger of economic losses. Buyers should due to this fact train due warning whereas investing or buying and selling in shares. Dailyraven Applied sciences or the writer usually are not responsible for any losses prompted because of the choice primarily based on this text. Please seek the advice of your funding advisor earlier than investing.
