Waaree Renewable Technologies Ltd. has been a significant player in the renewable energy sector in India. As of September 25, 2024, the company’s share price is experiencing notable fluctuations. Currently, the share price stands at ₹1,605.20, reflecting a 5% increase today alone. The stock has shown a 52-week range with a low of ₹235.99 and a high of ₹3,037.75, indicating substantial volatility over the past year.
Main Points
- 1 Current Waaree Renewable Technologies Shares and Market Performance
- 2 Waaree Renewable Technologies Shares Key Financial Metrics
- 3 Waaree Renewable Technologies Shares Technical Analysis
- 4 Support and Resistance Levels
- 5 Moving Averages
- 6 Waaree Renewable Technologies Shares Recent News and Developments
- 7 Waaree Renewable Technologies Shares Market Sentiment
Today, Waaree Renewable Technologies Ltd. opened at ₹1,605.20 and has fluctuated between this price point without any drastic changes. The stock has demonstrated a 1-week performance of 11.04% and a 1-month performance of 6.07%, although it has seen a decline of 20.67% over the past three months. Over the past year, however, the stock has appreciated significantly by 533.79%, showcasing its strong long-term growth potential.
- Market Capitalization: ₹15,167.38 Crores
- P/E Ratio: 102.39
- P/B Ratio: 65.3
- Return on Equity (ROE): 80.88%
- Debt to Equity Ratio: 0.0388
These metrics indicate that while the stock may appear overvalued based on its high P/E ratio, it also reflects strong profitability and efficient use of equity.
Support and Resistance Levels
The technical analysis for Waaree Renewable Technologies indicates critical support and resistance levels:
- First Support Level: ₹1,597.22
- Second Support Level: ₹1,508.98
- First Resistance Level: ₹1,729.57
- Second Resistance Level: ₹1,773.68
These levels are essential for traders looking to make informed decisions about entry and exit points.
Moving Averages
The stock’s moving averages suggest a bullish trend:
- 20-Day Moving Average: ₹1,516.75
- 50-Day Moving Average: ₹1,611.61
- 100-Day Moving Average: ₹1,660.84
This trend indicates that the stock is currently trading above its short-term moving averages, which can be a positive sign for potential investors.
In recent news, Waaree Renewable Technologies has been highlighted for its impressive growth trajectory in the renewable energy sector:
- The company reported a significant revenue growth of 384.99% over the past three years.
- Recent quarterly results showed net sales reaching ₹236 crore for June 2024, marking an increase of 86% year-on-year.
- Analysts remain optimistic about the company’s future performance due to its strong operational margins and strategic initiatives in solar energy.
Investors are particularly interested in Waaree’s commitment to sustainability and innovation within the renewable energy space. The company continues to expand its portfolio with solar modules and related products.
Despite some short-term fluctuations in share price, market sentiment around Waaree Renewable Technologies remains largely positive due to its robust growth metrics and strong fundamentals. Analysts recommend monitoring the stock closely as it approaches key resistance levels.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
