Micro-cap Stock Under Rs 100: Announces Development of 14.96 MW/21.747 MWp Solar Power Plants; Stock Locked in 5 per cent Upper Circuit
With a PE ratio of 75.1x, the company trades at a premium compared to the industry PE of 28.8x.
On Friday, shares of Waa Solar Ltd locked in the 5 per cent upper circuit following the development announced by the company.
WAA Solar Ltd has announced the development of ground-mounted solar power plants with a cumulative capacity of 14.96 megawatts (MW) or 21.747 megawatt-peak (MWp) under the PM-Kusum-C Yojana in Gujarat. These projects have been developed for Paschim Gujarat Vij Company Ltd (PGVCL), reinforcing the company’s commitment to India's clean energy goals.
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The PM-Kusum-C Yojana is a government initiative aimed at promoting renewable energy adoption and reducing dependency on fossil fuels. WAA Solar Ltd’s participation in this program aligns with the company’s focus on sustainable energy solutions, enhancing energy security, and fostering environmental responsibility. The newly developed solar power plants will contribute to increasing the renewable energy share in Gujarat’s power grid, reducing carbon footprints, and providing long-term benefits to local communities.
Amit Khurana, Managing Director of WAA Solar Ltd, expressed gratitude to the team and stakeholders for their contributions to the project’s successful execution. The company reiterated its dedication to advancing sustainable energy solutions and driving impactful change in India’s renewable energy sector.
Waa Solar Ltd. engages in solar power generation. It intends to invest in solar power generation companies for the purpose to set up a solar power project through special purpose vehicle. The company was founded on November 9, 2009 and is headquartered in Vadodara, India.
WAA Solar Ltd has a market capitalisation of Rs 97.6 crore and is currently trading at Rs 73.6 per share. The stock has reached a 52-week high of Rs 262and a low of Rs 62.6 over the past year. The one-year return is -49.93 per cent, and whooping 729 per cent multibagger returns in 5 years.
With a PE ratio of 75.1x, the company trades at a premium compared to the industry PE of 28.8x.
Investors must keep this micro-cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.