Waaree Energies, ACME Solar Holdings, KPI Green Energy see decline in share prices; here's why

Shares of renewable energy companies such as Waaree Energies, KPI Green Energy and ACME Solar Holdings were trading in the negative territory on Friday. In contrast, the benchmark indices NIFTY and SENSEX were trading higher. NIFTY50 was up 0.48% to 24,029, while BSE SENSEX gained 400 points to 79,457.

Waaree Energies share price

The stock is down 0.79% to ₹2,613.15 per share on the NSE.

It had hit a record high of ₹3,743 on November 6. Since then, it has dropped 30.1%.

The lock-in period (50% shares) for anchor investors ended on November 23, 2024, which could also be a contributing factor to the sharp decline.

Besides this, renewable energy players fear lower exports to the United States under the Trump administration. In his victory speech, US President-elect Donald Trump had stated that on his "day one" in Oval, he would stop renewable projects.

ACME Solar Holdings share price

The company had reported a 60% drop in consolidated net profit to ₹15.29 crore in Q2 FY25, against ₹38.63 crore in the corresponding period previous fiscal.

Revenue was down 19.7% to ₹260 crore during the quarter under review, compared to ₹323 crore in the same period last fiscal year.

The total income declined 17.3% year-on-year (YoY) to ₹295.1 crore, while total expenses increased 15.1% YoY to ₹38.8 crore.

KPI Green Energy share price

The decline in share price could be due to profit booking as the stock has gained 5% this week, following the 1:2 bonus issue announcement.