Multibagger from its 52-week low: This small-cap company secures multiple orders!

The stock gave multibagger returns of 191.07 per cent from its 52-week low of Rs 280 per share.

Today, shares of Waaree Renewable Technologies Ltd surged 1.03 per cent to Rs 801.05 per share with the day’s high of Rs 815 and the day’s low of Rs 793.  

Waaree Renewable Technologies Ltd has received multiple projects of solar power and EPC-related work.  

Order No-1: From Mahatma Phule Renewable Energy & Infrastructure Technology Limited ("MahaPreit") for 1 MW Green Hydrogen Project in Maharashtra on Built-Own-Operate (BOO) basis. The order is to be executed in 12 months.   

Order No-2: From Renewable Energy Arm of one of India’s leading steel manufacturing companies for EPC works in respect of solar power project with a capacity of 221.8MWp DC.  

Waaree Renewables Technologies Ltd is engaged in the business of generation of power through renewable energy sources and also provides consultancy services in this regard.   

According to the financials, the company has a market cap of Rs 1,667.37 crore. The company reported excellent results in quarterly and annual consolidated financial statements. The net sales skyrocketed 121 per cent and the net profit skyrocketed 2400 per cent in Q3FY23 compared to Q3FY22.   

The stock gave multibagger returns of 191.07 per cent from its 52-week low of Rs 280 per share. Investors should keep an eye on this Small-Cap stock.