Waaree Energy Share Price Sees Massive Trading Volatility After Brokerage Sees Sharp 48% Rally; Time To Buy?

Waaree Energy Share Price Today: The BSE 200 Electrical Equipment stock, Waaree Energies Limited, saw a massive surge in its trading volumes during Monday's intraday trading session. The stock gained momentum after brokerage Emkay Global revised its target price for Waaree Energy Shares.

Waaree Energy shares were trading 0.52% lower at Rs 2,859 per share on BSE at 12:50 pm with a market capitalisation of Rs 82,240.85 crore. The stock had touched an intraday high of Rs 2935 per share on Monday. Waaree Energy share price saw a sharp jump in its trading volatility in the early hours of stock market trading session.

Waaree Energy shares exchanged over 8,535 hands at 9:53 am on Monday. As per BSE data, nearly 51,343 shares were sold on Monday till 12:53 pm, whereas 15,419 shares were bought till the time.

Waaree Energy Share Price Target

Brokerage Emkay Global has given a 'Buy' rating to Waaree Energy shares with a target price of Rs 4,260 per share. As per the brokerage's report, dated 7 December, the stock is expected to see a strong 48% rally in the long-term.

"We value Waaree's core business at 14x FY28E EV/EBITDA and BESS separately at 1x Phase-1 capex (invested capital) of Rs20.7bn and adjusting the minority interest (~24x target PER). We arrive at target price of Rs4,260, which provides 48% upside from the CMP. Our TP implies a target P/E of 24.3x. We initiate coverage on Waaree Energies with BUY," noted the brokerage in its report.

Amid India's growing energy demand, the solar energy market is likely to boom in the coming years. The domestic solar manufacturing development has been supported by favourable regulations like ALMM, BCD, and DCR. The profit pool will shift from module to cell and to wafer-ingot, but the margins and returns in the sector are likely to stay protected, noted the brokerage in its report.

"FY25-28E revenue/EBITDA/APAT CAGR is 36%/48%/40%, on the back of major integrated expansions in FY26-27 leading to 33% module volume CAGR and a largely stable EBITDAM at 23-24%. Waaree is further diversifying into BESS, transformers, inverters, and electrolyzers, besides its already established EPC and O&M presence - this allows it a higher wallet share with customers," added Emkay in its report.

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