India’s largest manufacturer of solar PV modules and India’s largest Solar Cell Manufacturer surges 12.61% in today’s (Friday) trading session. The stock has closed at ₹ 2,672.20 on Thursday. The stock opened with a positive note. At 9:15 A.M the stock price was ₹ 2694. After 11:35 A.M the stock surges forward till the closing bell and settled at ₹ 3008 with 12.61% hike.
Reasons behind the stock’s rally
There are two solid reasons are backed behind the strong buying and making the Waree Energy Ltd. in the spotlight in the equity market.
1.Inclusion of FTSE Index
On 20th June 2025, the rejig in indices of London-based Financial Times Stock Exchange (FTSE) is set to declare its changes in latest index composition. As a result, the inflows will commence from 23rd June 2025.
The names in the FTSE list are : Vishal Mega Mart with inflows fixed at $115 million, Waaree Energies pegged at of $49 million, Hyundai Motor India fixed at $56 million, NTPC Green Energy fixed at $22 million, Swiggy fixed at $32 million. The OneSource Specialty Pharma, Afcons Infrastructure, Sai Life Sciences, and Inventurus Knowledge are also set to enter the FTSE radar for further inclusion. Due to these adjustments in the global index, above equities are expected to see solid inflows according to the different brokerage houses.
2. Donald Trump’s One Big Beautiful Bill and Waree Energy’s Expansion in U.S
Waaree Energies also gained tailwind from positive media commentary from President Donald Trump’s “One Big Beautiful Bill” which are based on resilience to U.S. policy changes. The goal of the “One Big Beautiful Bill” is to cut back government spending and change tax rules. The bill also proposes to reduce or remove tax credits and incentives for renewable energy, especially for solar and wind power. proposes cutting back renewable energy incentives.
Waaree Solar Americas, the company’s American subsidiary, has recently secured multiple large contracts, including a 586 MW module supply deal and a 599 MW order from top independent power producers. Hence, Waaree Solar Americas plans to double the capacity at its Brookshire, Texas facility to 3.2 GW by end of 2025. It seems the company has tried to clench the U.S. market position slowly and strategically .
Despite of these two big reasons, Waree energies’s promoters hold 96.15% stake as of March 31, 2025 in the “WAAREEINDO”. “WAAREEINDO” is the new scrip name of Indosolar Ltd. which is relisted on Bourse, the Paris stock exchange, France. However, the company Waree Energy has sold 1.15 per cent stake earlier this month via OFS to bring it down to 95 per cent. Again, todays Indian Stock Market was in positive sentiments which boost the Waree Energy stocks to soar.
About Waree Energy Financial
Waree Energy Ltd. was listed in NSE and BSE on 28th Oct 2024. It is an Indian manufacturer of solar PV modules an has five solar module manufacturing facilities in India as well as in international presence. The company is a large cap one with market cap ₹ 85,707 Crore. The high and low values of the stock are ₹ 3,743 and ₹ 1,809 respectively. The price earning ratio (PE) of the company is 45.9. The company reported 1,928 Crore in last FY that is in FY24-25. The promoters holding on the company is 66.31%.