Share price of this renewable energy stock hit a new all-time high of Rs. 7,090.5 in the morning trading session of Wednesday after the company announced a stock split.
With a market capitalisation of Rs. 14,712.13 crore, at 11:06 a.m., the stock was trading in the green on BSE at Rs. 7,265, up by 4.62 percent, whereas its previous closing price was Rs. 6,752.90.
In the last one year, the company has delivered multibagger returns of about 1,018.8 percent and nearly 453.5 percent in the last six months. So far in 2024, it has given positive returns of around 220.17 percent.
According to recent regulatory filings with the BSE, Waaree Renewable Technologies Limited has fixed a Record Date for the split of Equity Shares at a 1:5 ratio.
This means that, 1 equity share with a face value of Rs. 10 each would be subdivided into 5 equity shares having a face value of Rs. 2 each, as per the filings on BSE.
The stock split was approved by the Equity Shareholders through Postal Ballot on March 01, 2024. The record date for the split of equity shares has been fixed on Saturday, that is, March 16, 2024.
In terms of financials, the revenue from operations of the company grew by nearly 116% QoQ from Rs. 150 crore in Q2 FY23-24 to Rs. 324 crore in Q3 FY23-24.
The net profit of the company also increased by around 255.5 percent QoQ from Rs. 18 crore in Q2 FY23-24 to Rs. 64 crore in Q3 FY23-24.
Waaree Renewables Technology Limited, a subsidiary company of Waaree Group, is a leading renewable energy company focused on Solar EPC.
The company, headquartered in Mumbai, offers clean energy solutions through on-site solar projects (rooftop and ground-mounted) and off-site solar farms (open-access solar plants).
Written by Shivani Singh
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