Waaree Renewable Technologies zooms on collaborating with 5B Industries

29 Dec 2023 Evaluate

Waaree Renewable Technologies is currently trading at Rs. 1890.00, up by 92.70 points or 5.16 % from its previous closing of Rs. 1797.30 on the BSE.

The scrip opened at Rs. 1800.00 and has touched a high and low of Rs. 1900.00 and Rs. 1800.00 respectively. So far 69456 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1900.00 on 29-Dec-2023 and a 52 week low of Rs. 470.00 on 01-Feb-2023.

Last one week high and low of the scrip stood at Rs. 1900.00 and Rs. 1776.00 respectively. The current market cap of the company is Rs. 3874.46 crore.

The promoters holding in the company stood at 74.48 % while Institutions and Non-Institutions held 0.00 % and 25.52 % respectively.

Waaree Renewable Technologies (Waaree RTL) has entered into Long Form Heads of Agreement (LFHOA) with 5B Industries PTY, an innovative solar solution company, to accelerate the deployment of utility-grade solar power locally in India as well as in international markets with a US-compliant supply chain. The collaboration will open avenues for the commercialization of the innovative 5B Maverick solar product, allowing for localization, scalable production and competitive deployment in India, with the aim of supplying to both local and international developers as well as EPC companies.

The primary objective of Waaree RTL and 5B in terms of developing the supply chain is to reduce the build cost of Maverick Blocks, aiming for an economically competitive price point in India. Simultaneously, they endeavour to ensure adherence to best practices aligned with standard market norms. The collaboration underscores Waaree RTL’s dedication to pioneering solar innovation, enhancing deployment efficiency, and fostering a sustainable future. The 5B Maverick technology, under trial for the next year, is aimed at revolutionizing the solar landscape, making installations 10X faster, more cost-effective, and easier to maintain. 

Waaree Renewable Technologies operates as a renewable equipment company. The company offers solar PV modules, batteries, and other solar products.

Waaree Renewables Share Price

1396.65 -42.55 (-2.96%)
21-Nov-2024 16:59 View Price Chart
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