Shares of Waaree Renewable Technologies Ltd. hit an upper circuit of 5% and a record high on Friday after it received an order worth Rs 1,401 crore from North Eastern Electric Power Corp.
The letter of intent is for the execution of engineering, procurement and construction work with land development of ISTS-connected ground-mounted solar PV project of 300-MW-AC capacity on a turnkey basis along with three years operation and maintenance, according to an exchange filing.
"The project is scheduled to be completed in the financial year 2025–26 in various tranches," the solar EPC company said.
Waaree's stock was locked in the 5% upper circuit at Rs 5,835.25 apiece on the BSE, compared to a 1.43% advance in the benchmark Sensex at 12:30 p.m.
The share price has risen 653.57% in the last 12 months. The total traded volume so far in the day stood at 0.9 times its 30-day average. The relative strength index was at 75.27, indicating that the stock may be overbought.
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