The country’s largest solar module maker has seen an 86x jump in its stock price in three years and, by the looks of it, has more in the tank to keep going at this pace.
There’s just no slowing down Waaree Energies. India’s largest maker of solar modules, with a manufacturing capacity that just hit 12 gigawatts, is already larger than rivals Adani Solar and Vikram Solar put together.
It is also amongst the largest beneficiaries of the latest tranche of the government’s production-linked incentive, or PLI, scheme for manufacturing solar equipment, bagging 6 GW worth of the total 39.6 GW awarded.
The stock of its listed subsidiary, Waaree Renewable Technologies, has gone up over 8,600% in the last three years, making it among the best-performing energy stocks. The share has seen a rise of …
Aakriti used to write at the intersection of public markets and large corporations. She joined The Morning Context from The Financial Express, where she was with the markets team, and before that had started out in business journalism as a correspondent with Reuters.
Writer
aakriti@mailtmc.com
Delhi