Waaree Renewable Tech Shares Surge 5% on ₹232 Crore LoA from Parent

Waaree Renewable Technologies Shares Jump 5% on ₹232 Crore LoA from Parent

📈 Stock Surge: Waaree Renewable Technologies’ stock rose 5.53% to ₹973.1 per share after receiving a ₹232.3 crore Letter of Award (LoA) from its parent, Waaree Energies.
💼 EPC Project: The LoA is for engineering, procurement, and construction (EPC) works for a 170 MW AC/255 MW DC ground-mounted solar power project, which includes operation and maintenance. The project is scheduled for completion in FY 2025-26.
📊 Stock Performance: The stock is trading 2.74% higher at ₹947.4 as of 10:32 AM, marking a 25% rise since early March, though it’s down 30% this year.
💡 Recent Developments: Earlier in March, Waaree Renewable Technologies also received a ₹740.06 crore LoA for another solar power EPC project of 125 MWAC (181.3 MWp DC) capacity.