Waaree Energies shares gain 2% after company bags 2 GW solar module order

Waaree Energies shares gained 1.71% to touch an intraday high of Rs 2,541.80 during Tuesday’s trading session after the company received an order on September 21, 2026, to supply 2 GW of solar modules to a renowned domestic customer, which is a leading solar developer.

According to the company’s exchange filing, the order is a one-time contract, with the supply of solar modules scheduled across FY27 and FY28. The company did not disclose the commercial value of the order.

The order has been awarded by a domestic entity and involves the supply of 2 GW of solar modules. Waaree Energies said that neither its promoter group nor group companies have any interest in the entity awarding the order.

The company also clarified that the order does not fall under related-party transactions.

The latest order adds to Waaree Energies’ order visibility as demand for solar modules and renewable energy infrastructure continues to grow in India.

Waaree Energies Share Price, Valuation and Technical Indicators

Share price performance: Waaree Energies shares have remained subdued in recent weeks. The stock has declined around 6% over the past month and is down nearly 26% over the last one year. The company currently has a market capitalisation of around Rs 72,747 crore, while its 52-week high stands at Rs 3,718.80.
On the valuation front, Waaree Energies has a price-to-earnings (P/E) ratio of 19.3, while its price-to-sales (P/S) ratio stands at 3.37 and price-to-book (P/B) ratio at 4.91.From a technical perspective, Waaree Energies shares are currently trading below seven out of eight Simple Moving Averages (SMAs), indicating weakness across several key moving-average levels.

In the June 2026 quarter, Foreign Institutional Investors (FIIs) increased their stake in the company from 7.06% to 8.57%, while mutual fund holdings declined marginally from 2.98% to 2.81% during the same period.

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