Waaree Energies gains ~7% as subsidiary wins $176 Mn order

29 May 2025 , 03:06 PM

Waaree Energies Limited jumped as much as 7% after the company stated that its wholly-owned subsidiary Waaree Solar Americas bagged an order for supply of 586 MW solar modules. The aggregate order value is $176 Million.

At around 2.20 PM, Waaree Energies was trading 6.69% higher at Rs 2,984.30 per piece, against the previous close of Rs 2,797.10 on NSE. The counter touched an intraday high of Rs 2,992.30.

The business said that the stated order was received from a renowned customer who is a developer and owner-operator of utility scale solar and energy storage projects in the United States.

The company expected to complete the supply of 586 MW solar modules to begin from the financial year 2027.

Last week, the company said that the board has approved the acquisition of Kamath Transformers Pvt. Ltd. The aggregate value of the stated transaction is Rs 293 crore.

The business has acquired Kamath Transformers as part of its expansion plans and shall be completed in the ongoing fiscal year. The company plans to acquire a 100% shareholding in Kamath Transformers on a cash consideration basis.

Waaree Energies stated that Kamath Transformers is an established and progressive company in the manufacturing business of transformers.

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