The stock, which had gained 5% and 17.5% in the previous two sessions, reclaimed the Rs 1,200 level for the first time in months, driven by renewed optimism around earnings and improving sentiment in the renewable energy sector. Waaree has now surged 23% so far in July, offsetting losses from the prior month and continuing a recovery that began in May.
Despite the recent gains, shares remain nearly 39% below their 52-week high of Rs 2,074.95 hit in September 2024 and continue to trade below the IPO issue price of Rs 1,503 from its October 2023 listing.
Earnings due today
Investor focus is firmly on the company’s Q1FY26 results, with Waaree Renewable informing exchanges on Monday that its board will meet on Thursday to consider the unaudited standalone and consolidated financial statements for the June quarter.
The update comes after a strong showing in Q4FY25, when the company posted an 83% year-on-year jump in consolidated net profit to Rs 93.76 crore, alongside a 74% surge in total revenue to Rs 476.57 crore. Growth was led by the core EPC business, which contributed Rs 469.72 crore, up 76% from the year-ago period, while revenue from power sales remained flat at Rs 6.85 crore.
Technical indicators turn favourable
The rally has also been underpinned by positive technical signals. The stock is currently trading above all eight key simple moving averages, from the 5-day to the 200-day, indicating strength across timeframes. The Relative Strength Index stands at 66.2, and the MACD at 96.6, both reflecting bullish momentum.Also read | MobiKwik shares down 61% from peak, charts hint at upside till Rs 300. Should you buy?
Broader market sentiment around renewable energy names has turned more constructive in recent weeks, with investors betting on strong execution and long-term policy tailwinds across the clean energy value chain.
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