The day after the parent company of Waaree Renewable Technologies was approved to announce its IPO, Waaree Renewable Technologies’s shares showed a substantial price growth. When the market opened on Wednesday, September 25, 2024, i.e. today, the shares of Waaree Renewable Technologies opened at the price of Rs 1605.20, showing a growth of 5 percent to its previous close. As the prices of Waaree Renewable Technologies shares are soaring very quickly, investors and traders have become quite perplexed if it is high time to enter this stock and invest their money for the short-term. Catering to their queries about Waaree Renewable Technologies’ share, we have comprehensible provided an overview of this stock’s performance over the past year and suggest some critical technical levels that will help the trader to anticipate their entry and exit before investing in Waaree Renewable Technologies Ltd. So be sticky with this page and go through the article to the end. Swipe down the page.
Waaree Renewable Technologies Ltd Market Performance
In the country, Waaree Renewable Technologies Ltd is one of the leading companies in the renewable energy sector. The company’s shares recently showed significant growth after its parent company was approved to launch its IPO. Amid the positive market sentiment, the investors got attracted to Waaree Renewable Technologies Ltd, resulting in a 5 percent increase in its share prices. As of the latest updates, the share price of Waaree Renewable Technologies Ltd is at Rs 1605.20, showing an increase of 5 percent from its previous close. Speaking about the performance nature of this stock, Waaree Renewable Technologies Ltd has been quite volatile and unstable over the past year as it hit the maximum price of Rs 3,037.75 but also slipped to as low as Rs 235.99.
As mentioned, it opened at the price of Rs 1605.20, 5 percent higher than its previous close, the stock remained quite steady throughout the day as it did not make any drastic change after making a jump in the early trading day. Over the past week, the stock has increased by 11.04 percent and 6.07 percent over the period of one month. If you are thinking Waaree Renewable Technologies Ltd has been continuously making a profit every month, then you are wrong because the stock is still 20.67 percent lower than its three-month-old share price. However, it has shown a positive market sentiment over the past year by increasing 533.79 percent.
- P/B Ratio: 65.3
- P/E Ratio: 102.39
- Market Capitalization: Rs 15,167.38 Crores
- Return on Equity (ROE): 80.88 percent
- Debt to Equity Ratio: 0.0388
If the P/E ratio is high, the stock may appear overvalued. These key financial metrics also reflect strong profitability and efficient use of equity.
Support and Resistance Levels
Traders who are willing to invest in Waaree Renewable Technologies must take a look at the technical levels before buying the shares. These critical support and resistance levels help traders to understand the buying and selling pressure.
- 1st Support Level: Rs 1,597.22
- 2nd Support Level: Rs 1,508.98
- 1st Resistance Level: Rs 1,729.57
- 2nd Resistance Level: Rs 1,773.68
The recent news and developments have driven the buzz of Waaree Renewable Technologies among investors and analysts, leading to a significant growth in its share price.
- Waaree Renewable Technologies has been continuously announcing substantial revenue growth over the past three years, 384.99 percent.
- Recent quarterly results of Waaree Renewable Technologies hint that the net sales of the company reached Rs 236 crore for June 2024, marking an increase of 86 percent YoY.
- Market experts and analysts are also optimistic about Waaree Renewable Technologies’s future performance and strategic initiatives in solar energy.
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