Waaree Energies share price rises 13% on solid Q3; hold or book profit?
Waaree Energies' net profit surged 118.35 per cent on year to ₹1,106.79 crore in the third quarter (Q3FY26)
 "Waaree Energies share price rises 13% on solid Q3; hold or book profit?")
Waaree Energies share price today
Waaree Energies share price jumped over 13 per cent in Thursday's session as its net profit and revenue more-than-doubled during the third quarter of the current fiscal (Q3FY26). Waaree Energies shares rose as much as 13.26 per cent to ₹2,740, the highest level since January 5, on the National Stock Exchange (NSE).
Waaree Energies saw its 5.43 million shares changing hands on the National Stock Exchange till the time of writing this report. Its total market capitalisation was at ₹76,224.84 crore.
The counter, however, pared some gains to trade 9.32 per cent higher at ₹2,644.90 as of 10:15 AM, as compared to 0.88 per cent advance in the Nifty 50 index.
In the last 12 months, though, Waaree Energies share price have risen 9.35 per cent compared to a 9.31 per cent advance in the Nifty 50 index. FOLLOW STOCK MARKET UPDATES TODAY LIVE
Why did Waaree Energies share price rise today?
Waaree Energies share price surged today as the company's net profit more-than-doubled, soaring 118.35 per cent on year to ₹1,106.79 crore in the December quarter (Q3FY26). The net profit increased from ₹506.88 crore in the similar quarter a year ago.
Waaree Energies also saw its revenue surging 118.81 per cent on year to ₹7,565.05 crore in the December quarter from ₹3,457.29 crore. The earnings before interest, taxes, depreciation, and amortisation (Ebitda) increased 167.67 per cent on year to ₹1,928.15 crore from ₹721.73 crore last year, the company said in its exchange filing.
The renewable energy company's Ebitda margin expanded to 25.49 per cent in the third quarter, versus 20.88 per cent a year ago.
During the third quarter, Waaree Energies achieved 3.52 gigawatt module production aided by operational focus. The company also achieved a milestone of 0.75 gigawatt cell production.
Waaree Energies said it received 5.3 gigawatts-module orders from renowned customers in the third quarter. The company also bagged a transformer supply order of 1.27 gigawatts worth ₹100 crore. It also received an order for battery energy storage system of 10 megawatt hour from an infrastructure company, the company said in the exchange filing. ALSO READ | Eternal stock up 6%; here's how analysts view Zomato Q3 results, leadership transition
Waaree Energies stock technical analysis
The technical structure of Waaree Energies stock has improved, driven by a strong rally in the share price following the company's better-than-expected quarterly results, according to analysts. At present, the stock is showing an early structure of base-formation.
"Momentum indicators are gradually improving.The relative strentgh index (RSI) has moved up from oversold territory, reflecting a slowdown in selling pressure. The moving average convergence divergence (MACD) has registered a bullish crossover, suggesting the potential for short-term upside," said Vikash Yadav, technical research analyst at Kedia Advisory.
The ongoing relief rally, Vipin Kumar, assistant vice president, technical and derivatives research at Globe Capital Markets, said is likely to face resistance around ₹2,820-₹2,865 spot levels, which is the resistance zone of its price and 2-month exponential moving average (EMA). "For a sustained recovery, it needs to close above the ₹2,960 levels. Conversely, the ₹2,550-₹2,500 zone will act as immediate support on the lower end," he added.
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