5:1 stock split & 73,000 per cent returns: Multibagger solar stock hit upper circuit after bagging an order worth Rs 1233,47,78,778

The stock gave multibagger returns of 447 per cent in just 1 year, 3,500 per cent in 3 years and a whopping 73,000 per cent in 10 years.

On Thursday, shares of Waaree Renewable Technologies Ltd (WRTL) hit a 5 per cent upper circuit to Rs 1,494.45 per share from its previous closing of Rs 1,423.30 per share. The stock’s 52-week high is Rs 3,037.55 while its 52-week low is Rs 268.10. The shares of the company saw a spurt in volume by more than 1.30 times on BSE.

Waaree Renewable Technologies Limited (WAAREERTL) has secured a significant contract to undertake the Engineering, Procurement, and Construction (EPC) for a 2012.47 MWp DC ground-mounted solar PV project. This domestic project, valued at approximately Rs 1233,47,78,778 (excluding taxes), will be executed by WAAREERTL, a company specializing in renewable energy project development and implementation. The specific timeline for project execution will be determined mutually between the parties involved.

Additionally, shares of the company ex-traded sub-division/ split of the existing 1 equity share of the face value of Rs 10 each fully paid up into 5 equity shares of the face value of Rs 2 each fully paid up, subject to shareholders' approval with ex-date of stock split was Friday, March 15, 2024.  

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. WRTL has a market cap of over Rs 15,000 crore and has delivered good profit growth of 145 per cent CAGR over the last 5 years. The company’s order book as of September 30, 2024, stands at Rs 1.70-GW.

The shares of the company have an ROE of 93 per cent and an ROCE of 103 per cent. The stock gave multibagger returns of 447 per cent in just 1 year, 3,500 per cent in 3 years and a whopping 73,000 per cent in 10 years. Investors should keep an eye on this small-cap stock.

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