Waaree Energies soars on the BSE
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Waaree Energies is currently trading at Rs. 2597.60, up by 31.20 points or 1.22% from its previous closing of Rs. 2566.40 on the BSE.
The scrip opened at Rs. 2556.65 and has touched a high and low of Rs. 2648.00 and Rs. 2535.00 respectively. So far 72754 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 3740.75 on 06-Nov-2024 and a 52 week low of Rs. 2294.55 on 28-Oct-2024.
Last one week high and low of the scrip stood at Rs. 2842.00 and Rs. 2535.00 respectively. The current market cap of the company is Rs. 74176.52 crore.
The promoters holding in the company stood at 64.30%, while Institutions and Non-Institutions held 5.03% and 30.67% respectively.
Waaree Energies has entered into a Share Purchase agreement with Enel Green Power Development S.r.l (Seller) on January 10, 2025 for acquisition of 100% of the share capital of Enel Green Power India (EGPIPL) for a total amount of upto Rs 792 crore, subject to customary closing adjustments. The Seller is one of Europe’s largest renewable energy companies, and EGPIPL is its Indian business. EGPIPL owns solar and wind projects in India which includes around 640 MWAC / 760 MWDC operational and portfolio under development. Operational portfolio includes projects jointly owned with a partner where majority equity stake is with EGPIPL.
Further, pursuant to the above acquisition of shares, Enel Green Power India will become a Subsidiary of the Company. The acquisition will diversify revenue streams, enhance execution capabilities for wind projects, and facilitate expedited growth of Waaree’s IPP business.
Waaree Energies is primarily engaged in the business of manufacture of Solar Photo-voltaic Modules, setting up of Projects in solar space and sale of electricity.
