“This acquisition is done as part of its business expansion activity,” Waaree Energies said in an exchange filing.
The board also approved the acquisition of Green New Delhi Forever Energy Private Limited by Waaree Forever Energies Private Limited, a wholly owned subsidiary of Waaree Energies. The deal will be executed at Rs 1 lakh per share with a face value of Rs 10 each, the filing added.
Both acquisitions are expected to be completed in FY26 and will be fully funded through cash consideration.
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Waaree Energies shares price target
According to Trendlyne, the average target price for Waaree Energies is Rs 2,602, suggesting a 12% downside from current levels. The stock carries a ‘Sell’ rating based on recommendations from four analysts.Technically, the stock’s Relative Strength Index (RSI) stands at 68.1. An RSI above 70 is considered overbought, while below 30 is considered oversold. The MACD is at 103.8, above both its centerline and signal line — a bullish signal.The stock is currently trading above its 5-day, 10-day, 20-day, 30-day, 50-day, and 100-day simple moving averages (SMAs).
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Waaree Energies shares price performance
In the previous session, Waaree Energies shares closed 0.9% higher at Rs 2,947.9. The stock has gained 27% over the past month and 33% in the last three months. The company’s market capitalisation stands at Rs 84,689 crore.
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