Introduction:
Subsidiary of a leading energy firm has secured a Letter of Award for a 170 MW solar power plant project in Madhya Pradesh. The plant will provide clean energy to local power management and Indian Railways, supporting renewable energy goals.
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Share price movement of Waaree Energies:
On December 12, 2024, Waaree Energies Ltd opened at ₹3,235.00, up 1.92% from its previous close of ₹3,174.05. The stock reached a high of ₹3,448.00 (8.63%) and a low of ₹3,211.60. By 3:58 PM, it traded at ₹3,292.10, a 3.72% increase, with a market cap of ₹94,576.50 crore.
Waaree Energies’ Subsidiary Secures Solar Power Plant Project:
Waaree Forever Energies, a wholly-owned subsidiary of Waaree Energies Limited, has received a Letter of Award (LoA) from Rewa Ultra Mega Solar Limited (RUMSL) for a 170 MW solar power plant project in Madhya Pradesh.
The project will generate clean energy for transmission through the Inter-State Transmission System (ISTS). It aims to supply renewable power to Madhya Pradesh Power Management Company Ltd and Indian Railways, furthering India’s renewable energy objectives.
Recent news on Waaree Energies:
As of December 05, 2024, Waaree Energies, a leading solar module manufacturer, has received accreditation from the National Accreditation Board for Testing and Calibration Laboratories (NABL) for its testing lab at the Chikhli facility in Gujarat.
Stock performance of Waaree Energies for Period of 1 week and 1 month:
Waaree Energies has shown strong performance with a 16.0% return over the past week and a 14.7% return over the last month, indicating positive growth and investor confidence in its recent activities.
Shareholding pattern of Waaree Energies:
| All values in % | Oct 2024 |
| Promoter | 64.30% |
| FII | 2.20% |
| DII | 3.00% |
| Public | 31% |
About Waaree Energies:
Waaree Energies Limited (NSE: WAAREEENER) is India’s largest solar PV module manufacturer with a 12 GW installed capacity. Established in 1990, it manufactures solar modules, sets up projects, and operates multiple facilities across India.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
