Waaree Energies shares rose more than 8 percent during the trading session on Friday on the back of strong buying in the broader markets.
Waaree Energies shares rose on Friday as the stock rose more than 8 percent during the trading session on the back of strong buying in the broader markets. The stock has been on a bullish trend after several reports about the stock came out recently.
Waaree Energies Ltd shares rose 8.4 percent to Rs 2,896.60 on Friday, taking its total market capitalisation to over Rs 83,000 crore. The stock had closed at Rs 2,672.20 on Thursday. Despite a 23 percent drop from its 52-week high of Rs 3,740.75, the stock is still down 92 percent from its IPO price of Rs 1,503 per share.
First, the reshuffle in the indices of the London-based Financial Times Stock Exchange (FTSE) is likely to bring solid inflows into some well-known stocks including Waaree Energies, which may see inflows of $49 million. Other names include Hyundai Motor India, Vishal Mega Mart, NTPC Green Energy, Swiggy, Afcons Infrastructure, etc.
The announcement of the revision is scheduled on June 20, while flows are expected to begin on June 23. According to the brokerage, several stocks are expected to see solid inflows as a result of these adjustments in the global index provider. Further, Waaree Energies said it is ‘largely insulated’ from US President Donald Trump’s One Big Beautiful bill, which discourages solar and wind power installations, said a report by CNBC TV18.
The solar module maker is also planning to double its capacity in the US. Vare Solar America, the US-based subsidiary of Vare Energies, has recently won several large orders, including a 586 MW module supply agreement and a 599 MW order from leading independent power producers in the US. Vare plans to double its capacity at its manufacturing facility in Brookshire, Texas to 3.2 GW by the end of 2025 to meet this growing demand.
The stock has been on the radar recently as Indosolar Limited was relisted on the bourse on Thursday under the new scrip name “VariIndo” as Vare Energies is the promoter of the company, holding 96.15 percent stake in the company as of March 31, 2025. However, it brought it down to 95 per cent by selling 1.15 percent stake through OFS earlier this month.
The stock listed on the BSE at Rs 165.05 on Thursday and closed 5 per cent higher at Rs 173.31 on Thursday. On Friday, it again jumped 5 per cent to Rs 181.97, touching its upper circuit limit, with a total market capitalisation of Rs 757.06 crore.
