Today, we recommend two stocks, one from the renewable energy sector and another from the oil & gas sector, recommended by the Trade Brains Portal, to buy for an upside potential of more than 16%. We also analyzed the market’s performance on Wednesday to understand what may lie ahead for the stock indices in the coming days.
1. Waaree Renewable Technologies Ltd
- Current price: ₹989
- Target price: ₹1,150
- Upside: 16.3%
- Time frame: 12-14 Months
Why it’s recommended
Waaree Renewable Technologies Limited (WRTL), a subsidiary of Waaree Energies Limited, established in 1999, is recognized as a leading player in the solar EPC (Engineering, Procurement, and Construction) sector. The company has successfully executed over 10,000 solar projects with a combined operating capacity exceeding 2.5 GW. With 32 years of experience in the solar energy industry, Waaree operates across 19 Indian states, boasts an overall project capacity of 15 GW, and has completed more than 150 large-scale projects. Its extensive reach includes over 400 franchises across India, and it exports products to 26 countries.
As of FY25, WRTL has an unexecuted order book of 3,263 MWp, which has shown steady growth over time, and an executed order book of 1,524 MWp. The EPC order book stands at 3.2 GW, valued at approximately Rs 1.2 crore, and is expected to be fulfilled within the next 12 to 15 months. The company is also pursuing a project pipeline of around 30 GW for the coming years. WRTL has developed 54.82 MWp of solar power generation assets under its IPP (Independent Power Producer) segment and is currently setting up an additional 41.6 MWp IPP plant. Furthermore, under the Mukhyamantri Saur Krishi Vahini Yojana (MSKVY) 2.0, the company received a contract from the Renewable Energy Generation Company for the design and EPC of 94 MW AC solar PV plants across multiple locations. The total value of this project is Rs 114.22 crore.
In FY2025, the company reported revenue of Rs 1,597.75 crore, reflecting a significant 82.29% increase compared to Rs 876.5 crore in FY2024. Its EBITDA rose by 50.06% year-over-year to Rs 310.90 crore in FY25 from Rs 207.18 crore the previous year. Similarly, PAT (profit after tax) grew by 57.64%, reaching Rs 228.92 crore in FY25, up from Rs 145.22 crore in FY24. Between FY22 and FY25, WRTL expanded its market presence and achieved an impressive revenue CAGR of 115%. The company has secured EPC orders totalling 2,448 MWp and manages a 695 MWp O&M (Operations and Maintenance) portfolio.
Risk Factor
WRTL operates as a mid-sized player in a highly competitive and fragmented market. It faces strong competition from the EPC divisions of large independent power producers (IPPs), which often possess greater bargaining power when securing projects. Additionally, the company contends with numerous small and medium-sized enterprises that offer similar EPC and O&M services to the same customer segments.
2. Chennai Petroleum Corporation Ltd
- Current price: ₹702
- Target price: ₹810
- Upside: 15.4%
- Time frame: 12 Months
Why it’s recommended
Chennai Petroleum Corporation Limited (CPCL), formerly known as Madras Refineries Limited (MRL), is an Indian oil refining company headquartered in Chennai, Tamil Nadu. Established in 1965 as a joint venture among the Government of India, AMOCO (a U.S.-based oil firm), and the National Iranian Oil Company (NIOC), CPCL has grown into a significant player in the Indian energy landscape. Today, it operates as a subsidiary of Indian Oil Corporation Ltd. (IndianOil), which holds a 51.89% majority stake.
In FY25, CPCL achieved a crude throughput of 10.45 million metric tonnes (MMT), representing 99.5% utilization of its installed capacity. For Q4 alone, throughput stood at 2.974 MMT, which is 113% of installed capacity. During the year, the company launched a new product, pharma-grade hexane, targeting new markets while continuing to maintain its food-grade hexane production. Hexane, MTO, and lean butane posted the highest volumes in FY25.
CPCL has also positioned itself as one of the early movers in the development of Sustainable Aviation Fuel (SAF), having conducted a trial run during the year. The company is aggressively advancing into new value-added product segments, including SAF, pharmaceutical hexane, and LOBS, leveraging its complex refinery infrastructure and R&D collaborations.
In FY25, CPCL incurred a capital expenditure of Rs 673 crore. Its maintenance capex was in the range of Rs 200-250 crore and is expected to remain between Rs 250-300 crore going forward. Total capex is projected at Rs 700-800 crore annually over the next two years. The company has also revised the cost estimate for its Cauvery Basin Refinery (CBR) project to Rs 36,354 crore, structured under a 25:75 equity sharing arrangement between CPCL and Indian Oil, respectively. The company continues to improve its capacity utilization, energy efficiency (as measured by EII), and fuel and loss reduction metrics.
Risk Factor
CPCL remains exposed to volatility in global crude oil prices, which can directly impact its profit margins. Additionally, the company faces regulatory uncertainties related to changing policies, licensing conditions, and compliance obligations. These factors could pose operational challenges and elevate the risk of legal or procedural delays.
Market Recap, 02 July 2025
On Wednesday, the Nifty 50 opened slightly on a greener trend at 25,588.30 but traded in a bearish trend most of the session, ending the day with a decline of -88.40 points, or -0.35%, to close at 25,453.40. The RSI stood at 61.34, comfortably below the overbought level of 70. The index finished above all four key moving averages—the 20, 50, 100, and 200-day EMAs on the daily chart. A similar trend was seen in the BSE Sensex, which opened at 83,790.72, touched an intraday low of 83,150.77, and closed at 83,409.69, down by -287.60 points, or -0.34%. The RSI for the Sensex was 60.16, and it too remained above all four major EMAs.
Investors on Wednesday have mixed sentiment; with the tariff deadline coming, it makes investors cautious about the future. Investors are shifting their attention to the upcoming Q1FY26 results, whereas macroeconomic indicators like PMI, inflation, repo rate cuts, and government expenditure are supporting the market resilience.
Many sectoral indices ended in the red on Wednesday. The Nifty Realty Index fell -1.44%, or -14.15 points, closed at 970.05, and was among the major losers. The fall was driven by stocks like Phoenix Mills, which declined by 3.32%; Brigade Enterprises, which decreased -3.25%; and Prestige Estate Projects and Anant Raj, both down more than 2%.
The Nifty Finance Index was also among the top losers, declining -0.97%, or 262.50 points, to close at 26,861 on Wednesday. Stocks like Cholamandalam Investment, Shriram Finance, HDFC Life Insurance, and Bajaj Finserv declined by more than 2% due to profit booking and higher valuation concerns. The Nifty PSU Bank Index also closed at 7,193.65, declining -0.83% or -59.95 points due to stocks like Bank of Maharashtra, which declined by more than 2.14%, Bank of Baroda, and Bank of India, which declined by 1.81% and 1.51%, respectively.
While a few indices were on the green side, the Nifty Metal Index was among the top gainers, surging by 134.65 points, or 1.41%, to close at 9,699.2. The gain was led by a rise in stocks such as Tata Steel, SAIL, JSW Steel, and Welspun Corp., which jumped more than 2.5%. The Nifty Consumer Durable Index also ended in the green, gaining 399.95 points, or 1.04%, to settle at 38,908. Major gainers include Kajaria Ceramics, PG Electroplast, Dixon Technologies, and Blue Star, gaining around 3%.
Asian markets closed on a mixed note. South Korea’s Kospi declined by -14.59 points, or -0.47%, at 3,075.06. Japan’s Nikkei 225 slipped -223.85 points, or -0.56%, to close at 39,762.48. Meanwhile, the Hang Seng Index gained 149.13 points, or 0.62%, ending the day at 24,221.41. As of 4:50 p.m., Dow Jones Futures were trading higher by 138.19 points, or 0.31%, at 44,631.14.
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