Waaree Renewable Share Price Gains Ahead Of Dividend Announcement
Shares of Waaree Renewable Technologies Ltd. surged on Wednesday, gaining over 16%, following a 17% gain on Tuesday. The recovery comes after a sharp decline of more than 20% on Monday, continuing a downward trend that started on Jan. 8. This drop was triggered by the resignation of the company's Chief Financial Officer Dilip Panjwani, who stepped down on Jan. 7.
Despite the recent volatility, the stock managed to recover as investors reacted positively to the company's announcement regarding its upcoming financial results and the potential declaration of an interim dividend.
Waaree Renewable Technologies revealed that its board would consider the declaration of an interim dividend for equity shareholders, along with setting a record date for the payment on Jan. 16.
In the last two trading sessions, Waaree Renewable's stock had regained the drop. The stock has been volatile in recent days, but the company's upcoming financial announcement and the interim dividend are likely to provide much-needed clarity and confidence to the market.
As of now, the stock is back on an upward trajectory, with the dividend announcement acting as a catalyst for renewed investor optimism.
Waaree Renewable Share Price Today
Share price of Waaree Renewable rose as much as 16.04% to Rs 1,297.95 apiece. It pared gains to trade 8.43% higher at Rs 1,212 apiece, as of 11:09 a.m. This compares to a 0.35% advance in the NSE Nifty 50.
The stock has risen 142.58% in the last 12 months. Total traded volume so far in the day stood at 4.5 times its 30-day average. The relative strength index was at 42.
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