Green Energy stock engaged in the business of generation of power through renewable energy sources and providing consultancy services related to it, hit a 5 percent upper circuit upon receiving a work order for a solar power plant worth Rs. 990 Crores.
With a market capitalization of Rs. 9,686 Crores, the shares of Waaree Renewable Technologies hit a 5 percent upper circuit in the day’s trade at Rs. 4,650.15. It has delivered multibagger returns of 645 percent in a year.
Waaree Technologies Limited has received a Letter of Award (LOA) worth Rs. 990.60 Crores from one of India’s leading Renewable Energy companies for the execution of Engineering, Procurement, and Construction (EPC) work for a Solar power plant of 980 MWp /700 MWac on a turnkey basis.
The Letter of Award is to be completed within 12 months and with the addition of the above-mentioned project, Waaree Technologies Limited has an unexecuted order book of 2.141 GW.
Waaree Renewable Technologies Limited is engaged in the business of generating power through renewable energy sources and providing consultancy services related to it. The solutions provided by the company include rooftop solar, floating solar, ground-mounted solar and many more.
It has a strong customer base that includes well-known players like Reliance Industries, BPCL, Adani, Mondelez, Aditya Birla, Larsen & Toubro, NTPC, and many more.
It has reported a return on equity (ROE) of 95.8 percent and a return on capital employed (ROCE) of 83.8 percent, it is making good returns on its equity and capital employed.
Written by: Bharath K.S
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