Waaree Energies Ltd. continues to see decline in its share price for the fifth session today. The stock dropped nearly 10% during trade on Monday. In the last five trading sessions, the stock has witnessed a fall of 13%.
The nosedive is driven by the likely impact of US energy policy under President Donald Trump. The US could impose import tariffs or reduce Inflation Reduction Act or IRA incentives, which are designed to boost the domestic solar industry by offering tax credits to American manufacturers. These policies could negatively affect Indian exporters in the space.
In the event of unchanged IRA incentives, but higher import tariffs, Indian exports may initially decline.
A conference call for analysts and institutional investors is to be held on Jan. 31, 2025, in respect of the unaudited financial results, both standalone and consolidated, of the company.
Waaree Energies Share Price
Waaree Energies Ltd. share price fell as much as 6.35% during the day on the NSE. It was trading 5.84% lower at Rs 2,067.8 apiece, compared to an 0.19% advance in the benchmark Nifty 50 as of 10:21 a.m.
It was down 11.63% in the last 12 months. The total traded volume so far in the day stood at 2 times its 30-day average. The relative strength index was at 24.5.
The only analyst tracking the company suggests a 'sell', according to Bloomberg data. The 12-month analysts' consensus target price on the stock is Rs 2,550, implying an upside of 21.8%.
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