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Economic Times
2 days ago
- Business
- Economic Times
Waaree Energies shares jump over 8% in 2 days. Here's why
Waaree Energies shares: The deal, finalized on June 27, will be carried out via a one-time international supply agreement. According to a stock exchange filing on Friday, Waaree Solar Americas will supply 270 MW of modules in 2025, with the remaining 270 MW slated for delivery between 2027 and 2028. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Waaree Energies shares price target Shares of Waaree Energies gained 8.4% in the last two trading sessions after its U.S.-based subsidiary secured a 540 megawatt (MW) solar module supply contract from a major American developer of utility-scale solar and energy storage deal, finalized on June 27, will be executed through a one-time international supply arrangement. Waaree Solar Americas will deliver 270 MW of modules in 2025, with the remaining 270 MW scheduled for 2027–2028, the company disclosed in a stock exchange filing on latest deal adds to Waaree's recent string of international wins. In the past few weeks, the company has secured two other large U.S. orders, one for 586 MW and another for 599 MW of solar modules. The flurry of contracts comes as Waaree looks to ramp up its presence in the North American company is also doubling its manufacturing capacity at its Brookshire, Texas, facility to 3.2 gigawatts (GW) by the end of a statement issued earlier last week, Waaree reaffirmed its compliance with U.S. trade regulations, including Foreign Entity of Concern (FEOC) rules, and disclosed that its order book now stands at 25 GW through in early trade today, the stock rose 2% to Rs 3,199.10, but later slipped to Rs 3,092, down 1.5% as of 11:04 to Trendlyne, the stock has an average target price of Rs 2,602, suggesting a potential downside of around 16%. Four analysts currently hold a 'Sell' rating on the the bearish outlook, Waaree Energies shows bullish technical momentum. The stock is trading above all key moving averages (5-day to 150-day SMAs), and the Relative Strength Index (RSI) stands at 65.1—indicating strong momentum but not yet in overbought shares have gained 11% in the past two weeks and 30% over the last three months. The company's current market capitalisation stands at Rs 89,056 crore.
Time of India
2 days ago
- Business
- Time of India
Waaree Energies shares jump over 8% in 2 days. Here's why
Shares of Waaree Energies gained 8.4% in the last two trading sessions after its U.S.-based subsidiary secured a 540 megawatt (MW) solar module supply contract from a major American developer of utility-scale solar and energy storage projects. The deal, finalized on June 27, will be executed through a one-time international supply arrangement. Waaree Solar Americas will deliver 270 MW of modules in 2025, with the remaining 270 MW scheduled for 2027–2028, the company disclosed in a stock exchange filing on Friday. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Xu hướng nhà container: Giải pháp nhà ở hiện đại và bền vững Visionary Echo Tìm hiểu thêm Undo This latest deal adds to Waaree's recent string of international wins. In the past few weeks, the company has secured two other large U.S. orders, one for 586 MW and another for 599 MW of solar modules. The flurry of contracts comes as Waaree looks to ramp up its presence in the North American market. The company is also doubling its manufacturing capacity at its Brookshire, Texas, facility to 3.2 gigawatts (GW) by the end of 2025. In a statement issued earlier last week, Waaree reaffirmed its compliance with U.S. trade regulations, including Foreign Entity of Concern (FEOC) rules, and disclosed that its order book now stands at 25 GW through 2027. Live Events Meanwhile, in early trade today, the stock rose 2% to Rs 3,199.10, but later slipped to Rs 3,092, down 1.5% as of 11:04 am. Waaree Energies shares price target According to Trendlyne, the stock has an average target price of Rs 2,602, suggesting a potential downside of around 16%. Four analysts currently hold a 'Sell' rating on the stock. Despite the bearish outlook, Waaree Energies shows bullish technical momentum. The stock is trading above all key moving averages (5-day to 150-day SMAs), and the Relative Strength Index (RSI) stands at 65.1—indicating strong momentum but not yet in overbought territory. Waaree shares have gained 11% in the past two weeks and 30% over the last three months. The company's current market capitalisation stands at Rs 89,056 crore.
Yahoo
22-05-2025
- Business
- Yahoo
Solar Stocks Tumble as GOP Tax Bill Takes 'Sledgehammer' to Green Subsidies
Renewable energy stocks tumbled after the House of Representatives passed a tax bill that effectively nullifies many Biden-era green energy initiatives, a move seen as deeply damaging to the solar sector. Shares of SunRun (RUN) tumbled more than 38%, while Enphase Energy (ENPH) dropped 19% to lead S&P 500 decliners. NextEra Energy (NEE) stock slid 9%, and First Solar (FSLR) was off about 4%. The House on Thursday morning passed a tax and spending bill that would end tax credits for wind and solar projects in 2029, years earlier than a previous version of the bill. The bill also requires projects to begin construction within 60 days of the bill's passage to qualify for those credits, a next-to-impossible timeline for any infrastructure project. Jefferies analysts in a note Thursday called the bill a 'sledgehammer' to the Inflation Reduction Act, 2022 legislation that established tax incentives to spur clean energy investment. The bill makes claiming most IRA tax credits 'truly untenable,' Jefferies said, and is a 'worse than feared' outcome for the solar industry. SunRun was particularly hard hit by a last-minute addition that excludes companies that rent residential solar equipment to customers from earning certain tax credits. The bill now moves to the Senate. Jefferies expects the Senate to focus on Foreign Entity of Concern (FEOC) language, which restricts tax benefits for companies with supposed ties to hostile governments, and the phaseout timeline of clean electricity credits. Jefferies expects the stocks of domestic solar companies like First Solar to outperform competitors due to the House bill's more aggressive FEOC language. However, the entire industry may be 'adrift' for weeks before the Senate releases its own markup of the bill, its analysts wrote. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
First Solar raised to Outperform at Wolfe Research
-- Wolfe Research upgraded First Solar (NASDAQ:FSLR) to Outperform from Peer Perform and set a price target of $221 on the stock in a note on Tuesday. The firm highlighted improved clarity on key tax credits and favorable policy momentum for the company. 'We're upgrading FSLR on better clarity on 45X credits for the first time since election year politics started in early 2024,' Wolfe analysts wrote in a note Monday. The firm had long viewed risks around the Inflation Reduction Act (IRA) as an overhang on First Solar. But they explained that a recent proposal by the House Ways and Means Committee, which slightly shortens the 45X tax credit timeline, is seen as a net positive. 'We have been wary of IRA risks for 18 months on FSLR and view the House Ways & Means slight shortening of 45X credits as a relief,' the analysts said. Wolfe estimates First Solar could earn roughly $10 billion in 45X credits through 2031, or about $92 per share. 'FSLR's domestic moat remains well intact as the only domestic solar module manufacturer of scale, and also doesn't rely on foreign components such as cells or wafers,' the firm added. Proposed Foreign Entity of Concern (FEOC) restrictions, which may limit the use of Chinese components, were also viewed as a tailwind. 'The bill's proposed FEOC restrictions are relatively strict and another good signal that it will be tough for Chinese manufacturers to compete in the U.S., further strengthening FSLR's competitive positioning.' While the phaseout for 45X will now begin in 2029—one year earlier than previously proposed—Wolfe called the change 'a minor headwind' and noted First Solar's strong balance sheet reduces the need to monetize credits before 2027. Related articles First Solar raised to Outperform at Wolfe Research Fintech Chime files for U.S. IPO Northland initiates CoreWeave coverage with Outperform rating, sees $80 PT Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
