Waaree Energies on Fire: What’s Pushing the Stock Up

Waaree Energies

has been rallying strongly lately. Here are the key reasons why the solar stock is catching fire — and what this could mean for investors. What’s Causing the Surge Fresh Big Order Wins The company picked up a large ₹1,252.43 crore EPC (Engineering, Procurement & Construction) order for an extra-large ground-mount solar project (~870 MWac / 1,218 MWp) that includes substation, transmission lines & O&M works. Delivery is planned by FY27. Strong Earnings & Order Book In Q1 FY26, Waaree posted robust financials: module production hit new highs, revenues up ~31.5% YoY, EBITDA jumped ~82.6% YoY, and profit after tax surged ~92.7%. Margin improvements were notable. The backlog/order book is strong — about ₹49,000 crore as of June 2025 — giving good revenue visibility. Market Cap Milestone & Technical Breakout The stock crossed ₹1 lakh crore market capitalization, and hit a fresh 52-week high. Trading volumes spiked ~3.6×, showing heightened investor interest. It also broke past a resistance zone (~₹3,650), which many technical analysts see as bullish. Policy Tailwinds India recently reduced GST on solar PV modules and wind turbine generators (from 12% to 5%), helping reduce costs for players like Waaree and improving project economics. What to Watch / Risks Even amid the uptrend, Waaree snapped a 3-day rally due to profit booking. Recent surge (~17.6% over 3 days) saw partial pullback. With strong gains, valuations look rich. P/E multiples may be high compared to historical averages or peers. Investors will be watching how much earnings growth justifies current price. Waaree is riding a strong wave: solid earnings, huge order book, policy support, and technical breakout. If execution holds up, there’s room for upside. But watch for short-term volatility, valuation pressure, and risk around trade/regulation.