The rally follows the company’s announcement of a key milestone in India’s push for energy security and manufacturing self-reliance earlier this week. Waaree Energies has broken ground on its integrated solar ingot and wafer manufacturing facility at Butibori in Nagpur. The upcoming unit will have a capacity of 10 GW each for solar ingots and wafers, making it the largest integrated facility of its kind in India.
The project, spread over 300 acres with an investment of about Rs 6,200 crore, will focus on producing high-purity solar ingots and wafers, which are key components in the solar photovoltaic value chain. The facility is expected to strengthen domestic manufacturing capabilities, reduce dependence on imports, and improve supply chain resilience as India accelerates its transition towards clean energy.
India continues to emerge as one of the world’s fastest-growing renewable energy markets, supported by strong policy initiatives aimed at expanding domestic manufacturing capabilities and strengthening energy independence.
Earlier in the day, the company announced it had joined the Rajasthan Royals as the title sponsor for the upcoming T20 league. As part of the association, Waaree Energies will be featured on the front of the Rajasthan Royals’ official playing and training kits for the season.
This association marks a proud milestone for us. As India advances towards global leadership in clean energy, it is critical that this movement extends beyond businesses and becomes a people’s movement. Rajasthan Royals, with their strong global following and community-driven ethos, offers an ideal platform to amplify this vision, the management said.
Despite the recent surge, the stock is down 10% in the last 6 months. On a year-to-date basis, the Waaree Energies share price has risen 8%. Waaree Energies share price is up 46% in the last 1 year.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)