Waaree Energies shares rise 2% on 500MW solar module supply order. Check details

Waaree Energies Limited saw its shares rise nearly 2% on Tuesday, following the announcement of a significant order to supply 500 MW of solar modules to a domestic solar power developer and independent power producer. This uptick in share price, reaching Rs 2,965.60, marks the third consecutive day of gains for the company. The contract, specified in a stock exchange filing, is a one-time agreement for the financial year 2026-27, under which Waaree will fulfill the entire order within a defined timeline. In addition to this order, Waaree Energies is actively pursuing a partnership with the Andhra Pradesh government and other state authorities to establish a new manufacturing facility for Lithium-Ion Advanced Chemistry Storage Cells and Battery Energy Storage Systems (BESS). This initiative aims to significantly expand the company's production capacity from 3.5 GWh to 20 GWh, necessitating an investment of approximately Rs 8,000 crore in its subsidiary, Waaree Energy Storage Solutions Private Limited (WESSPL). Furthermore, Waaree Energies reported a notable 26% increase in net profit for the third quarter, amounting to Rs 1,062 crore, alongside a 24.7% rise in revenue, indicating robust financial health amid growing market demand for renewable energy solutions.