From Rs 306 to Rs 1390 in just one year; the unbelievable surge of this smallcap renewable company!

Exponential growth unleashed company shares skyrocket by 354 per cent in one year, dwarfing BSE Smallcap Index 29 per cent rise.

The Sensex continues its record-breaking streak today and closes above Rs 67,000. Today, the Nifty rose by 83 points to close at Rs 19,833, while the Sensex increased 302 points to conclude at Rs 67,097. Reliance Industries Limited's late-session recovery and an increase in the value of banking and media equities propelled the rally today.

One company that is in the space of renewable energy and has been giving multibagger returns over the past few months and it is beating BSE Small Cap Index by heavy numbers. Waaree Renewable Technologies operates as a renewable equipment company, offering solar PV modules, batteries, and other solar products. Waaree Energy is today one of the largest vertically integrated new energy companies, with India's largest Solar panel manufacturing capacity of 12GW at its plants in Chikhli, Surat, and Umbergaon in Gujarat.

Waaree Renewable Technologies has surged by 36.63 per cent over the past one month. In the past 6 months the stock has provided staggering returns of 188.62 per cent and in a year it has generated unbelievable returns of 354.05 per cent.

Today, the scrip closed at Rs 1390.30, up by 1.94 per cent. It reached an all-time high of Rs 1400 on July 17, 2023 and it has a 52-week low of Rs 290.10. The company currently has a market capitalization of around Rs 2890 crore. Over the last three years the company has delivered an average ROE of 57.3 per cent and ROCE of 38.5 per cent.

The company remains bullish among investors and has been hitting back-to-back 52-week highs in the past month. The company has a board meeting scheduled on July 24, 2023 for the consideration and approval of unaudited financial results for the quarter ended June 30, 2023. Investors should keep an eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.