Shares of Waaree Technologies Ltd jumped 5 per cent in Thursday's trade to hit their upper price band of Rs 383.75. Today's upmove in the stock price came after the company bagged an order of solar off-grid combo. "Please take note that the company has received an order of 99 sets of solar off-grid combo on January 15, 2025, from a customer engaged in the trading activities, to be delivered in three months," it stated in a BSE filing.
The solar off-grid combo comprises batteries, solar panels, inverters, etc. The company didn't mention the estimated value of the order received.
Exchanges have put the securities of Waaree Technologies under the ESM (Enhanced Surveillance Measure) framework. BSE and NSE put stocks in the ESM framework to caution investors about price variation and standard deviation. ESM is for companies with market capitalisation (m-cap) less than Rs 1,000 crore.
In addition, bourses have placed it under the Graded Surveillance Measure (GSM) as well. This measure alerts investors to be extra cautious while dealing in these securities and advices market participants to carry out necessary due diligence.
Around 33,000 shares changed hands on BSE at the time of writing this story. The figure was lower than the two-week average volume of 71,000 shares. Turnover on the counter came at Rs 1.25 crore, commanding a market cap of Rs 413.23 crore. There were 29,925 buy orders today against sell orders of nil shares.
The counter traded higher than the 5-day simple moving average (SMA) but lower than the 10-day, 20-, 30-, 50-, 100-, 150-day and 200-day SMAs. The counter's 14-day relative strength index (RSI) came at 23.42. A level below 30 is defined as oversold while a value above 70 is considered overbought.
As per BSE data, promoters held a 58.80 per cent stake in the power generation firm.
Meanwhile, Indian equity benchmarks extended their climb for the third straight session today, led by gains in state-owned lenders, metals, financial and realty stocks.