This Solar Stock Turned into a Multibagger in Three Years
Waaree Renewable Technologies Ltd has experienced consecutive lower circuit hits, resulting in a more than 22 percent decline in the company’s stock price. Profit booking, which is evident in both this stock and other stocks, is cited as the cause of this decline.
In terms of the company’s finances, they are excellent and demonstrated excellent performance in the third quarter. Comparing the same quarter of last year to this one, it saw positive growth in net sales, net profit, and EPS, indicating strong financial performance during that time.
Compared to the same quarter in the previous year (Rs 72 crore in December 2022), the company’s net sales for the quarter were Rs 322 crore, up 347.22%. The net profit for the quarter that ended in December 2023 was Rs 66 crore, up from Rs 27 crore in December 2022. This represents a noteworthy 144.44% growth. From Rs 12.78 in December 2022 to Rs 31.50 in December 2023, the earnings per share (EPS) grew.
Waaree Renewable Shares Surge More Than 500% in a Year
| Period | Closing | Growth | Returns on ₹10k |
| 1M | ₹2,479.45 | 52.93% | ₹15,293 |
| 2M | ₹1,680.95 | 125.57% | ₹22,557 |
| 3M | ₹1,440.60 | 163.21% | ₹26,321 |
| 4M | ₹1,314.20 | 188.53% | ₹28,853 |
| 5M | ₹1,276.80 | 196.98% | ₹29,698 |
| 6M | ₹1,300.25 | 191.62% | ₹29,162 |
| 7M | ₹1,335.00 | 184.03% | ₹28,403 |
| 8M | ₹967.60 | 291.88% | ₹39,188 |
| 9M | ₹989.40 | 283.24% | ₹38,324 |
| 10M | ₹890.95 | 325.59% | ₹42,559 |
| 11M | ₹630.60 | 501.30% | ₹60,130 |
| 12M | ₹612.90 | 518.67% | ₹61,867 |
In the last three months, the stock has increased 163.21%, 191.62%, and 283.24%. It has more than six-fold increased investors’ money over the past 12 months. Twelve months ago, you could have invested ₹10,000, and now those shares would be worth ₹61,867.
Up to 300 Percent Growth in 2023
| Month | Opening | Closing | Gain/ Fall |
| Jan | ₹503.65 | ₹494.35 | -1.85% |
| Feb | ₹476.05 | ₹604.65 | 27.01% |
| Mar | ₹624.80 | ₹774.35 | 23.94% |
| Apr | ₹792.90 | ₹887.15 | 11.89% |
| May | ₹921.15 | ₹847.10 | -8.04% |
| Jun | ₹836.35 | ₹1,127.00 | 34.75% |
| Jul | ₹1,135.10 | ₹1,398.50 | 23.21% |
| Aug | ₹1,397.55 | ₹1,226.80 | -12.22% |
| Sep | ₹1,156.30 | ₹1,277.10 | 10.45% |
| Oct | ₹1,401.70 | ₹1,372.90 | -2.05% |
| Nov | ₹1,367.80 | ₹1,432.20 | 4.71% |
| Dec | ₹1,448.90 | ₹1,981.35 | 36.75% |
| Total Returns in 2023 | 293.40% | ||
2023 investors made very good returns on their investments. Waaree Renewable Technologies’ stock closed at ₹1,981.35 on the last trading day of 2023, up 293.40% from its January 2023 price of ₹503.65.
Waaree Renewable Shares Performance & Return (Year-wise)
| Year | Open | Close | Gain/ Fall |
| 2024 | ₹2,194.15 | ₹3,791.80 | 72.81% |
| 2023 | ₹503.65 | ₹1,981.35 | 293.40% |
| 2022 | ₹336.05 | ₹500.35 | 48.89% |
| 2021 | ₹13.68 | ₹305.80 | 2135.38% |
| 2020 | ₹15.50 | ₹14.40 | -7.10% |
| 2019 | ₹18.50 | ₹15.00 | -18.92% |
| 2018 | ₹53.85 | ₹18.75 | -65.18% |
| 2017 | ₹28.35 | ₹51.30 | 80.95% |
| 2016 | ₹10.85 | ₹27.05 | 149.31% |
| 2015 | ₹12.00 | ₹10.85 | -9.58% |
| 2014 | ₹14.01 | ₹11.15 | -20.41% |
| 2013 | ₹14.01 | ₹14.04 | 0.21% |
| 2012 | ₹14.01 | ₹14.33 | 2.28% |
About Waaree Renewable Technologies
The company’s main line of business is providing renewable energy solutions, with a concentration on solar energy. The business is an engineering, procurement, and construction (EPC) provider for solar energy systems. In addition, it develops, builds, owns, and manages solar energy projects.
In today’s trade, shares of Waaree Renewable Technologies, the Solar EPC subsidiary of Waaree Group, gained 6% and reached a new record high of ₹2,849 apiece, continuing their strong momentum for the seventh straight trading day. The share price has surged from ₹1,797 to ₹2,689 in the last six trading sessions, a remarkable 50% gain.
There are several encouraging developments to thank for this tremendous rally. The company said that its Board of Directors will convene on Saturday, January 20, 2024, to discuss a number of issues, including the proposal for the sub-division/split of the equity shares, in an exchange filing on January 4.