Solar battery manufacturer bags new order from Waaree Renewable Technologies Limited
The stock gave multibagger returns of 400 per cent in 2 years, 605 per cent in 3 years and a whopping 6,750 per cent in 5 years.
Waaree Technologies Limited has received a purchase order for 530 solar kits (comprising of batteries and solar panel-powered streetlights etc.) from Waaree Renewable Technologies Limited on November 22, 2024, to be delivered within a period of 8 weeks. The order is from a domestic entity for the supply of solar kits. The order is valued at Rs. 1.25 crore and is expected to be executed within 8 weeks from the date of the order. The promoter of Waaree Technologies Limited is a director of Waaree Renewable Technologies Limited. The transaction is done at arm's length.
Waaree Technologies Ltd, a prominent player in the energy storage sector, was established in 2013. The company specializes in manufacturing and supplying a diverse range of energy storage solutions, including lithium-ion batteries, solar energy storage systems, and electric vehicle batteries. With a strong focus on innovation and sustainability, Waaree Technologies is committed to providing efficient and reliable energy solutions to meet the growing global demand for clean energy.
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Waaree Technologies offers a comprehensive portfolio of energy storage products under various brands, each catering to specific applications. The LIGER and LION series of lithium-ion batteries are designed for large-scale energy storage systems, while the LYNX series is specifically tailored for electric vehicles. The LIT series, on the other hand, focuses on smaller-scale applications such as UPS systems and renewable energy installations.
The company has a market cap of Rs 842 crore. The promoters of the company own 58.80 per cent stake, FIIs own 0.03 per cent and 41.17 per cent as of September 2024. The stock gave multibagger returns of 400 per cent in 2 years, 605 per cent in 3 years and a whopping 6,750 per cent in 5 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.