Waaree Renewable shares fall 20% today; here's the reason behind it

Shares of Waaree Renewable Technologies Ltd continued to fall for the fourth day in a row during Monday's trading session. The stock dropped 20%, hitting its lower circuit limit of Rs 951. This loss means the stock has fallen by 28.20% over the past four trading days.

The decline in the stock price started after Dilip Panjwani, the company's Chief Financial Officer (CFO), resigned due to personal reasons. He officially submitted his resignation on January 7, 2025, and his last working day will be January 31, 2025.

As a result of this sharp fall in the stock price, the exchanges have placed Waaree Renewable Technologies under the Additional Surveillance Measure (ASM) framework. This is a system used by the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) to warn investors about stocks that have high price volatility.

Looking at the technical details, the stock is trading below its 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day moving averages. According to the BSE, the stock’s price-to-equity (P/E) ratio is 49.43, while its price-to-book (P/B) value is 30.99. The earnings per share (EPS) stands at 19.24, with a return on equity (RoE) of 62.70.

The stock saw a lot of trading activity, with about 15.38 lakh shares being traded on Monday. This was much higher than the two-week average of 1.97 lakh shares. The total turnover for the stock was Rs 155.47 crore, and its market value stands at Rs 9,913.85 crore. However, there were 3,23,246 sell orders and no buy orders for the stock.

In other news, the company announced the formation of Waaree India Foundation, a non-profit organization, on January 8, 2025. The foundation aims to support healthcare, education, welfare, and shelter, as per the rules mentioned in the Companies Act, 2013.

Waaree Renewable Technologies is involved in the generation of power using renewable energy sources and offers Engineering, Procurement, and Construction (EPC) services in this sector. The company’s main office is in Mumbai, and its energy generation facilities are located in Maharashtra. According to exchange data, the company’s promoters hold a 74.44% stake in the company.

#trending #latest #WaareeRenewable #StockMarketNews #StockFall #MarketVolatility #CFOResignation #CircuitLimit #StockMarketUpdate #TradingLoss #RenewableEnergy #BusinessNews #StockPriceDrop #WaareeTechnologies #BSE #NSE #StockInvesting #MarketCrash #IndianStocks #FinancialNews #StockAlert #EnergySector #InvestorCaution #breakingnews #trendingnews #DXBIndiaNews #BreakingNewsIndia #IndiaUpdates #GlobalIndiaNews #TrendingInIndia #DXBTrending #IndiaHeadlines #TopStoriesIndia #MiddleEastMeetsIndia #ViralIndiaNews #SouthAsiaNews #AllIndianews #breakingsportsnews #breakingPoliticalnews #breakingFinancenews #breakingregionalnews #Entertainmentnews #Educationnews #technologynews #DXBIndia

Simple yoga poses to help reduce PCOD symptoms and balance hormones... Read More.

RPSC has released the RAS Preliminary Exam 2024 admit cards today, January 30, 2025.... Read More.