56,000 per cent returns and outperformed Suzlon: Renewable energy stock hits back-to-back Upper circuits; Receives mega order of Rs 547.5 crore!
From a low of Rs 7.42 to its current trading price of Rs 4,444.75. Also outshone Suzlon Energy, a darling among investors, by leaps and bounds.
In the realm of extraordinary achievements, just as legendary Indian cricketer Yuvraj Singh left an indelible mark with his iconic six sixes, the stock we are about to discuss has scripted a tale equally remarkable. Displaying a performance reminiscent of Yuvraj's feat, this stock has surged to back-to-back upper circuits, achieving an unprecedented 10 upper circuits. On Monday, it gracefully locked at an upper circuit limit of 5 per cent, reaching a fresh 52-week high.
Meet Waaree Renewables Technologies Ltd, a company born in 1989 with its roots in Mumbai, India, under the banner of Waaree Energies Limited. With an awe-inspiring aggregate installed capacity of 12GW as of June 30, 2023, at strategic locations in Chikhli, Surat, Tumb, and Nandigram in Gujarat, Waaree stands as an industry giant.
In a groundbreaking development on Monday, "WAAREERTL" proudly announced the receipt of a Letter of Award (LOA) for executing the Engineering, Procurement, and Construction (EPC) work for a 412 MWp/335 MWac Solar Power plant on a turnkey basis. This prestigious order, emanating from a global leader in renewable energy, catapults the unexecuted order book to an impressive 1.161GW. The associated order value stands at a significant Rs. 547.5 crore, encompassing Operations and Maintenance for a two-year period, valued at Rs. 6.798 crore.
Transitioning to stock performance, the numbers speak volumes. The stock has delivered an astronomical return of over 56,000 per cent from its humble beginnings in July 2020, surging from a low of Rs 7.42 to its current trading price of Rs 4,444.75. Transforming from a penny stock into a mega-multibagger, this stock has not only navigated the trajectory but has also outshone Suzlon Energy, a darling among investors, by leaps and bounds.
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ offers a service 'Multibagger Pick" with recommendations for multibagger stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then do download the service details pdf here