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Time of India

From 65,000% rally to 41% fall: Can Waaree Renewable Technologies' fresh breakout spark the next leg?

Shares of Waaree Renewable Technologies have staged a sharp comeback, rising over 17% in a single session on Tuesday, drawing renewed interest from traders and analysts. The stock is showing signs of a fresh technical breakout following a year-long consolidation and correction. Once considered one of the most explosive multibaggers on the bourses, Waaree RTL has delivered returns of over 65,000% since its 2020 lows, 1,800% in the last three years, and 340% in the past two years. However, it also corrected 41% over the past 12 months, reflecting both profit-booking and a cooling-off after a historic rally. Hardik Matalia, Derivative Analyst at Choice Broking, noted that the stock has broken out of a Symmetrical Triangle pattern, signaling the potential beginning of a sustained bullish trend. 'Waaree RTL is currently trading around Rs 1,146.70, with a strong bullish candle formation backed by robust volumes. The RSI stands at 74.54—near overbought levels—but the price action still leaves room for further upside,' Matalia said. He added that a sustained close above Rs 1,170 could confirm the breakout and trigger the next leg higher. While short-term traders can look to buy above that level or on dips, Matalia suggests that long-term investors may consider partial accumulation as long as the stock stays above Rs 1,000. Waaree RTL's Q4FY25 Earnings Waaree RTL's Q4FY25 earnings were solid. The company reported an 83% YoY jump in net profit to Rs 93.76 crore, while revenue from operations surged 74% to Rs 476 crore. EBITDA grew 68% YoY to Rs 126 crore, indicating sustained margin strength. The company has also secured several EPC contracts in recent months: - In June, it revised the scope of an existing solar EPC contract, raising the value by Rs 246.92 crore to Rs 1,480.40 crore. - Around the same time, it bagged a Rs 346 crore project from CESC Ltd. for a 300 MW AC solar power plant in Rajasthan. - In March, it received a Rs 232.30 crore EPC project from Waaree Energies , its promoter group entity, for a 170 MW AC / 255 MW DC solar installation. These projects collectively strengthen the company's execution pipeline and may offer near- to medium-term revenue visibility. What's Next for the Stock? After a year of underperformance, the recent breakout and bullish indicators are raising investor hopes for a turnaround. 'Technically, the broader structure remains strong. As long as Waaree RTL holds above Rs 1,000, the bullish view remains intact,' said Matalia. Whether the current momentum leads to a sustainable rally or short-lived bounce will likely depend on follow-through volumes, broader market sentiment, and continued order inflow. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)