Waaree Energies shares have been on a roll, surging 4 percent on December 12 after the company bagged a project for the development of a 170 MW solar power plant in Madhya Pradesh, awarded by the Rewa Ultra Mega Solar Limited.
With the surge in today's session, the stock also managed to extend its winning streak to the seventh consecutive session, clocking in gains of over 20 percent during the period. What's more interesting is that the stock has slipped into the red in only one of the last 12 sessions.
At 10.18 am, shares of Waaree Energies were trading at Rs 3,244 on the NSE.
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The latest project comes just a couple of days after the company secured another order to supply up to 1 GW of solar modules. The order came from a prominent renewable energy company in India, with deliveries planned for FY25 and FY26, as per the company’s regulatory filing. Waaree Energies, however, didn't disclose the monetary value of the order.
Shares of Waaree Energies made a blockbuster debut on the bourses back in early November, listing at Rs 2,500, a premium of over 66 percent over its IPO price of Rs 1,503 per share. Since then, the stock has witnessed a rollercoaster journey, soaring 50 percent to a record high of Rs 3,743 before sharp profit-booking dragged it off its peak. However, it has regained momentum with a steady rise in recent sessions.
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