Waaree Energies shares rise nearly 7%; here's how other green energy stocks are performing

The stock climbed as much as 6.92% to ₹2,613.30 per share on the National Stock Exchange (NSE). At 2:06 pm, it was up 5.62% to ₹2,557 apiece.

Its market capitalisation stands at ₹73,523.68 crore.

The report said that a formal announcement regarding this will be made during the Andhra Pradesh Investment Summit this week. Meanwhile, the NSE and the BSE have sought a clarification from the company regarding the development. The company's response is awaited.

In Q2 FY27, Waaree Energies had reported a 14.2% decline in consolidated net profit to ₹753.5 crore, compared to ₹878.2 crore a year back. Its revenue from operations advanced 23.9% to ₹7,517.7 crore.

Operating EBITDA descended 5.1% to ₹7,517.7 crore in the quarter under review as against ₹6,065.6 crore in the same period of the previous fiscal year. EBITDA margin was at 17.7% versus 23.2%.

Jignesh Rathod, Whole Time Director and CEO, Waaree Energies, said, "As we continue to expand our capabilities and strengthen our presence across the clean energy value chain, we expect our Battery Energy Storage System (BESS), Transformers, Inverters, EPC T&D and Green Hydrogen businesses to contribute to future growth."

"As we will enter FY28, Waaree will be fully ready to execute on capacities namely 29GW of Solar PV, 15.4 GW of Solar Cell, 5 GWh of BESS Pack & Container, 3.5 GWh Battery Cell manufacturing, 4 GW of Inverter, 20,000 MVA of Transformers and a larger integrated EPC entity (Projects + T&D)," he added.

How other green energy stocks are performing

KPI Green Energy shares were trading 2% higher at ₹338.10 per unit on the NSE. On November 6, the company announced that it has energised further capacity of 49.7 MWp under its 250 MW / 350 MWp Solar Power Project (IPP) and 121.8 MWp under its 370 MW / 677 MWp Hybrid Power Project (IPP) at Gujarat's Bharuch.

"With the energising of the aforesaid capacity, the Company has cumulatively energised 300.8 MWp out of 350 MWp capacity under the said Solar IPP Project and 510.7 MWp out of 677 MWp capacity under the said Hybrid IPP Project, comprising 449.2 MWp of solar and 61.5 MW of wind capacity," it added.

Shares of NPTC Green, ACME Solar Holdings and Premier Energies were up 1.42%, 3.18% and 0.22%, respectively.

In contrast, Adani Green Energy shares fell 1.51%.