Waaree Energies shares snap 3-day rally, retreat 2% as investors lock in gains

Synopsis

Waaree Energies' shares experienced a slight dip on Friday after a significant three-day rally, yet remain up nearly 30% over the last three months. The renewable energy firm's market capitalization briefly exceeded ₹1 lakh crore, prompting profit-booking. This pullback follows strong Q1 FY26 results, with net profit jumping 89.1% to ₹745.20 crore, driven by growth across its solar business verticals.

Shares of Waaree Energies fell as much as 1.8% to Rs 3,670.05 on BSE on Friday, as investors booked profits following a sharp three-day rally that had lifted the stock 17.65%. Despite the pullback, the Mumbai-based renewable energy company’s shares are up nearly 30% over the past three months and have more than doubled over six months, reflecting strong market momentum driven by robust earnings growth.

The sharp rally also lifted the company’s market capitalization above Rs 1 lakh crore on Thursday, prompting some investors to take profits.

The stock’s retreat comes after it hit a fresh 52-week high of Rs 3,749.70 on Thursday, which pushed Waaree Energies’ market capitalization past the Rs 1 lakh crore mark. Investors seized the opportunity to book profits, while trading volumes jumped 3.6 times amid sustained buying, marking the third consecutive session of gains.

Recent earnings

The company’s growth was driven across its three business verticals – solar photovoltaic modules, power generation, and engineering, procurement & construction (EPC) – reflecting continued demand for solar solutions, including rooftop systems and large-scale project development.

Technical indicators signal caution

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