Waaree Energies Stock Soars 50% Since Listing, Market Cap Exceeds ₹1 Lakh Crore

Waaree Energies, a key player in India’s solar energy industry, has seen a remarkable rally in its stock price since debuting on the stock exchange on October 28. The stock has surged nearly 50%, driven by strong investor demand, particularly in the renewable energy sector. As of November 6, Waaree’s market capitalization has crossed ₹1 lakh crore, a substantial increase of over ₹35,000 crore from its initial listing day valuation.

Shares of Waaree Energies hit a new peak, trading as high as ₹3,743 on the NSE, marking a 7.78% rise in today’s session alone. The stock was initially listed at ₹2,500, reflecting a significant premium over the issue price of ₹1,503. With sustained buying interest, the stock has been on an upward trajectory, gaining investor attention in every session since its debut.

During today's trading, a total of 7.53 lakh Waaree Energies shares were exchanged, generating a turnover of ₹271.59 crore. Overall, more than 71 lakh shares were traded on the NSE by midday, underscoring the high demand among investors. The company’s current market cap on the BSE now stands at ₹1,03,779.62 crore, positioning it as one of the leading solar energy companies by market value in India.

Waaree Energies is a prominent PV module manufacturer, with an installed capacity of 12 GW as of June 2023. The company operates five manufacturing facilities located in Surat, Tumb, Nandigram, Chikhli, and Noida. Its focus on solar photovoltaic (PV) technology aligns with India’s growing push toward renewable energy solutions, making it an attractive choice for investors keen on supporting the country’s green energy initiatives.

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The ongoing interest in Waaree Energies highlights investor optimism about the potential of solar power in India, especially given the government's renewable energy targets. The steady rise in Waaree's stock value also reflects the broader market's favourable view of solar and clean energy investments, as companies like Waaree are crucial for India’s green energy future.

[Disclaimer: Stock market investments are subject to market risks. Please conduct thorough research or consult with a financial advisor before investing. Past performance does not guarantee future returns.]