The solar power plant will enable the generation and transmission of clean energy via the Inter-State Transmission System (ISTS). The project will supply renewable energy to Madhya Pradesh Power Management Company and Indian Railways thus contributing significantly to India's renewable energy goals. The official announcement was made after market hours on Wednesday, 11 December 2024. Waaree Energies is the largest manufacturer of solar PV modules in India with the largest aggregate installed capacity of 12 GW. Presently, it is engaged in manufacture of Solar Photo-voltaic Modules, setting up of projects in solar space and sale of electricity. The company operated five manufacturing facilities in India spread over an area of 143.01 acres. It operate one factory each located at Surat, Tumb; Nandigram, Chikhli in Gujarat, India and the IndoSolar Facility, in Noida, Uttar Pradesh. The company reported 14.77% increase in consolidated net profit to Rs 361.65 crore in Q2 FY25 as against Rs 315.09 crore posted in Q2 FY24. Revenue from operations rose 1.04% year on year (YoY) to Rs 3,574.38 crore in the quarter ended 30 September 2024. Powered by Capital Market - Live

Over the past five sessions, the stock has surged by an impressive 15.77%. On Monday, 9 December 2024, the company announced securing a significant order to supply up to 1 GW of solar modules. The order was placed by a prominent domestic customer specializing in owning, developing, and operating renewable energy projects across India. The supply of solar modules is slated to begin in the financial years 2024-25 and 2025-26. Waaree Energies is India's largest manufacturer of solar PV modules with the largest aggregate installed capacity of 12 GW. It has four solar module manufacturing facilities in India, with international presence. The company reported 14.8% increase in consolidated net profit to Rs 361.65 crore while revenue from operations rose 1.04% to Rs 3,574.38 crore in Q2 September 2024 over Q2 September 2023. Powered by Capital Market - Live

The said order is scheduled to commence in FY 2024-25 and FY 2025-2026. Waaree Energies is the largest manufacturer of solar PV modules in India with the largest aggregate installed capacity of 12 GW. Presently, it is engaged in manufacture of Solar Photo-voltaic Modules, setting up of Projects in solar space and sale of electricity. The company operated five manufacturing facilities in India spread over an area of 143.01 acres. It operate one factory each located at Surat, Tumb; Nandigram, Chikhli in Gujarat, India and the IndoSolar Facility, in Noida, Uttar Pradesh. The company reported 14.77% increase in consolidated net profit to Rs 361.65 crore in Q2 FY25 as against Rs 315.09 crore posted in Q2 FY24. Revenue from operations rose 1.04% year on year (YoY) to Rs 3,574.38 crore in the quarter ended 30 September 2024.Powered by Capital Market - Live

Waaree Energies has received an order for supply of solar modules upto 1 GW from a renowned customer engaged in the business of owning, developing and operating renewable power projects in India. The supply of solar modules is scheduled to commence in FY 2024-25 and FY 2025-2026.Powered by Capital Market - Live

Waaree Energies has incorporated a new wholly-owned subsidiary in Australia by the name of Waaree Renewable Energies Australia PTY . The said wholly-owned subsidiary was incorporated on 06 December 2024. Powered by Capital Market - Live

Waaree Energies has secured National Accreditation Board for Testing and Calibration Laboratories (NABL) accreditation for its cutting-edge PV Module Test Lab (PMTL). Located at Waaree's state-of-the-art module manufacturing facility in Chikhli, Gujarat, this accreditation further strengthens the company's deliverance to quality, innovation, and sustainability. This marks Waaree's second NABL accreditation, following the first achieved for its Tumb manufacturing facility. Powered by Capital Market - Live

Waaree Energies has received orders for supply of modules upto 364 MWp and 160 MWp from renowned customers engaged in the business of owning, developing and operating renewable power projects in India.Powered by Capital Market - Live

Waaree Energies has received an order for supply of modules upto 600 MWp from a renowned customer engaged in the business of owning, developing and operating renewable power projects in India. Powered by Capital Market - Live

The customer is engaged in the business of owning, developing and operating renewable power projects in India. The order includes the supply of 600 solar PV modules and deliveries are scheduled to begin in the fiscal year 2025-2026. Waaree Energies is the largest manufacturer of solar PV modules in India with the largest aggregate installed capacity of 12 GW. Presently, it is engaged in manufacture of Solar Photo-voltaic Modules, setting up of Projects in solar space and sale of electricity. The company operated five manufacturing facilities in India spread over an area of 143.01 acres. It operate one factory each located at Surat, Tumb; Nandigram, Chikhli in Gujarat, India and the IndoSolar Facility, in Noida, Uttar Pradesh. Waaree Energies reported 14.77% increase in consolidated net profit to Rs 361.65 crore in Q2 FY25 as against Rs 315.09 crore posted in Q2 FY24. Revenue from operations rose 1.04% year on year (YoY) to Rs 3,574.38 crore in the quarter ended 30 September 2024. The scrip slipped 2.71% to settle at Rs 2,525.75 on the BSE. Powered by Capital Market - Live

The key equity indices ended with moderate gains on Tuesday, snapping its seven days declining streak. The Nifty settled above the 23,500 level. Media, realty and auto shares advanced while metal, PSU bank and oil & gas stocks declined. As per provisional closing data, the barometer index, the S&P BSE Sensex rose 239.37 points or 0.31% to 77,578.38. The Nifty 50 index added 64.70 points or 0.28% to 23,518.50. The 50-unit index dropped 4.21% in past seven consecutive trading sessions. The broader market outperformed the frontline indices, the S&P BSE Mid-Cap index rose 0.94% and the S&P BSE Small-Cap index rallied 0.90%. The market breadth was positive. On the BSE, 2,350 shares rose and 1,615 shares fell. A total of 94 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, advanced 3.26% to 15.66. Stock market will remain closed tomorrow on account of Maharashtra State Assembly Elections. IPO Update: The initial public offer (IPO) of NTPC Green Energy received bids for 17,81,58,138 shares as against 59,31,67,575 shares on offer, according to stock exchange data at 11:15 IST on 19 November 2024. The issue was subscribed 0.30 times. The issue opened for bidding on 19 November 2024 and it will close on 22 November 2024. The price band of the IPO is fixed between Rs 102 to Rs 108 per share. An investor can bid for a minimum of 138 equity shares and in multiples thereof. Buzzing Index: The Nifty Media index jumped 2.45% to 1,945.40. The index slipped 1.42% in the past trading session. Zee Entertainment Enterprises (up 6.54%), PVR Inox (up 2.66%), Sun TV Network (up 2.18%), Hathway Cable & Datacom (up 1.05%), Tips Music (up 0.93%), Nazara Technologies (up 0.78%), Den Networks (up 0.74%), Dish TV India (up 0.56%), Saregama India (up 0.29%) advanced. Zee Entertainment Enterprises jumped 6.54% after announcing a leadership rejig. Punit Goenka, the company's managing director, has stepped down from his position to focus solely on his role as CEO. This decision, according to the company, is aimed at enhancing operational focus and driving growth across core business segments. Additionally, Mukund Galgali, the company's chief financial officer, will also assume the role of deputy CEO, effective immediately. He will continue to report to Goenka. Stocks in Spotlight: Indian Hotels Company (IHCL) jumped 2.18% after unveiling its ambitious 'Accelerate 2030' strategy. The strategy aims to double consolidated revenue, grow its hotel portfolio to 700+, and expand its brand presence. Key growth drivers include traditional businesses, management fees, and new and re-imagined businesses. Traditional businesses will be enabled by RevPAR leadership, asset management initiatives and inventory expansion of existing assets. Management fee is expected to cross Rs 1,000 crore by 2030, led by not like for like growth and increasing share of managed inventory. GMR Airports Infrastructure advanced 2.75% after the company reported a 9% year on year (YoY) increase in passenger traffic across all GMR airports, reaching over 10.7 million passengers in October 2024. ITI shed 0.65%. The company said that it has received a contract worth Rs 95 crore from Directorate of Geology & Mining, Government of Uttarakhand, for Mining Digital Transformation & Surveillance System (MDTSS) project. Akums Drugs and Pharmaceuticals was locked in upper circuit of 5% after the company entered into an exclusive master sales agreement with Caregen, a South Korean company in the nutraceuticals segment, to sell Caregen's range in India. Havells India added 0.88%. The company decided to set up facility for manufacturing refrigerators in Ghiloth, Rajasthan. NBCC (India) shed 0.84%. The company announced that it has received multiple orders from ST & SC Development, Minorities and Backward Classes Welfare Department aggregating to Rs 112 crore. Waaree Energies dropped 7.43%. The company reported 14.77% increase in consolidated net profit to Rs 361.65 crore in Q2 FY25 as against Rs 315.09 crore posted in Q2 FY24. Revenue from operations rose 1.04% year on year (YoY) to Rs 3,574.38 crore in the quarter ended 30 September 2024. Easy Trip Planners rose 0.40%. The company's board fixed Thursday, 8 November 2024 as the record date for the proposed bonus issue of equity shares. V-Mart Retail declined 0.82%. The company informed that a fire accident occurred at one of its stores located in Ahmedabad, Gujarat, on Monday, 18 November 2024. Manba Finance advanced 1.60% after the company announced the signing of a memorandum of understanding (MoU) with Piaggio Vehicles to offer customized financing solutions for three-wheelers. Godavari Biorefineries slipped 3.74% after the company's consolidated net loss increased to Rs 74.99 crore in Q2 FY25 from net loss of Rs 65.14 crore posted in Q2 FY24. Revenue from operations declined 33.73% YoY to Rs 320.05 crore in the quarter ended 30 September 2024. PG Electroplast surged 7.27% after the company informed that its wholly owned subsidiary, PG Technoplast has signed a definitive agreement with Spiro Mobility to manufacture electric vehicles (EVs) of Spiro Mobility (Spiro) in India. Global Markets: European stocks declined on Tuesday as investors remained cautious ahead of key data releases and earnings reports. The euro area annual inflation rate fell to 1.7% in September 2024, down from 2.2% in August 2024. In September 2023, the rate was 4.3%. Meanwhile, annual inflation in the European Union decreased to 2.1% in September 2024, compared to 2.4% in August. A year earlier, the inflation rate for the EU stood at 4.9%. These figures were released by Eurostat, the statistical office of the European Union. Asian shares ended higher on Tuesday, boosted by a strong performance from Tesla on Wall Street overnight. Investors also closely analyzed remarks by Chinese financial policymakers at an investment summit in Hong Kong. Chinese Vice Premier He Lifeng said at a global financiers summit in Hong Kong that China will support Hong Kong innovation and financial reform, enhancing the city's 'financial competitiveness.' He reiterated Beijing's commitment to 'explore and implement' measures aimed at building Hong Kong as an 'international financial center.' The probability of a rate cut at the December Fed meeting has decreased in recent days, as resilient economic data and potential inflationary pressures from the new administration's policies could limit the scope for easing. US stocks closed mixed on Monday. While the Dow Jones Industrial Average slipped 0.13%, the S&P 500 gained 0.39%, and the Nasdaq Composite Index rose by 0.60%. Tesla shares surged over 5% following reports of the incoming administration's focus on autonomous vehicle development. NVIDIA stock closed 1% lower amidst reports of overheating issues with its upcoming AI chips, ahead of its third-quarter earnings report on Wednesday. The upcoming week's US economic calendar is relatively light, with the key focus being the manufacturing and service sector PMI data due out on Friday. The National Association of Homebuilder's reported its housing market index for November rose to a reading of 46 versus 43 last month.Powered by Capital Market - Live