Solar
Waaree Energies Limited (WAAREEENER) falls 6% intraday, breaks below support
Waaree Energies Limited (NSE: WAAREEENER) drops 6% intraday to ₹2571.8, marking a breakdown as it breaks below support in the Technology > Solar sector.
Waaree Energies Limited (WAAREEENER) breaks below support, falling 6% to ₹2571.8 on the NSE on 30 Jul 2026, driven by the breakdown of its 6-month support trendline. This decline comes despite the company delivering robust Q1 FY27 performance, as indicated in the recent NSE filing. Waaree Energies, a prominent player in the solar technology sector, has shown significant growth and operational resilience. However, today’s move appears to be more company-specific, as it diverges from the broader sector momentum.
Technical setup — trendlines & DMA
From a technical perspective, Waaree Energies is currently in a breakdown phase, having fallen below its 6-month support trendline at ₹2749.65. The stock is now trading 6.92% below this support level, indicating a bearish sentiment. Resistance is seen at ₹3063.23, which is 19.11% above the current price. The 50-day moving average (DMA) at ₹2952.7 is below the 200-DMA at ₹3021.6, suggesting a downtrend. The stock is also in the lower third of its 52-week range, trading 12% above the 52-week low and 33.5% below the 52-week high, indicating that much of the downside may already be priced in.
Snapshot: ₹2,571.80 on 2026-07-30 (chart frozen at publication)
Fundamentals & business context
Fundamentally, Waaree Energies presents a mixed picture. With a PE ratio of 21.6 and profit margins at 14.0%, the stock appears reasonably valued given its impressive revenue CAGR of 58.9% and profit CAGR of 97.4% over the past five years. The low institutional ownership of 8.4% suggests that the ‘smart money’ is not heavily invested in this name, possibly indicating a cautious outlook. The recent NSE filing highlights the company’s strong Q1 FY27 performance, backed by significant year-on-year growth in revenue and module production.
Algorithmic scorecard
The overall algorithmic scorecard reflects a balanced but cautious outlook for Waaree Energies. The strongest signals come from its excellent revenue and profit CAGRs, indicating robust growth trajectory, and its very low debt levels, showcasing strong financial health. However, the weakest signals are the negligible dividend yield and the bearish technical indicators, such as the breakdown below support levels and the stock’s weak position relative to its moving averages. These technical weaknesses suggest that while the company’s growth story is compelling, the current market sentiment and technical setup pose risks that investors should be aware of.
Company outlook
Management has provided a forward-looking outlook with several key commitments. They are guiding for an operating EBITDA of INR 7,000 crores to INR 7,700 crores for financial year 27. Cell production is expected to normalize and increase by 10% to 15% in H2FY27. The company plans to have a 10-gigawatt cell facility operational in H2FY27 and an ingot wafer facility in FY28. Significant results from Waaree 2.0 are expected to start showing in H2FY27 and significantly in FY28. Higher module production from the US facility and IRA rebate are expected to increase multifold in FY27. The order book is expected to reflect a price hike to factor in higher commodity prices. The company has planned a capex of approximately INR 30,000 crores across various verticals to fuel the next phase of growth. This includes expanding module manufacturing capacity to 28 gigawatts, cell manufacturing capacity to 15.4 gigawatts, ingot wafer capacity to 10 gigawatts, battery capacity to 20 gigawatt hours, inverter capacity to 4 gigawatts, green hydrogen electrolyzer capacity to 1 gigawatt, transformers capacity to 20,000 MVA, and PV glass capacity to 2,500 TPD. Additionally, the company is deploying three and a half billion dollars of capex over the next two years to scale core capacity and expand into adjacent value pools.
Get all details on WAAREEENER — P&L, peers, shareholding and more on TradeAlone.
Solar
Vikram Solar Secures Major 289.87 Mwp Order for Grid-scale Solar in Rajasthan
Vikram Solar Limited (VIKRAMSOLR) secures a major 289.87 MWp order for grid-scale solar in Rajasthan from NLC India Limited.
Kolkata, India, 27th October 2026: Vikram Solar Limited (NSE: VIKRAMSOLR), a leading Indian solar PV module manufacturer, has secured a significant order to supply 289.87 MWp of N-TOPCon modules to NLC India Limited (NLCIL), on behalf of NLC India Renewables Limited (NIRL) for an 810 MW solar power project at the RUVN Solar Park in Pugal, Bikaner, Rajasthan. Built on N-type TOPCon cell technology, the modules are designed to deliver higher energy yield and stable output in high-irradiance, high-temperature conditions such as those of western Rajasthan.
Project Significance
Spread across the Thar region, the RUVN Solar Park is central to Rajasthan’s effort to harness its vast solar resource, as the state continues to lead India’s utility-scale solar build-out. This role in a project of this magnitude reinforces Vikram Solar’s standing as a trusted domestic supplier for grid-scale installations, where consistent quality, bankability, and timely delivery are critical.
Market Impact
The order further adds to the company’s order book as demand for high-efficiency, domestically manufactured modules continues to rise under India’s drive for self-reliance in solar manufacturing. Mr. Sameer Nagpal, Chief Executive Officer, Vikram Solar, said, “As India builds clean energy capacity at gigawatt scale, the industry is placing greater value on technology and supply partners it can rely on over the long term. Being entrusted with nearly 290 MWp of modules for this landmark project is a strong endorsement of our N-TOPCon technology and our ability to deliver at utility scale. As we deepen our integrated manufacturing capabilities, our priority is to give customers the performance certainty and supply reliability that projects of this size demand.”
About Vikram Solar Limited: Vikram Solar Limited is one of the leading Indian solar module manufacturers, specializing in efficient photovoltaic (PV) module manufacturing, with an international presence across 39 countries. Headquartered in Kolkata, West Bengal, it is one of the largest PV module manufacturers in India. Vikram Solar is a 9th time ‘Top Performer’ in PVEL’s PV Module Reliability scorecard and has been included in the Tier 1 solar PV modules manufacturer list of Bloomberg NEF for 10 consecutive quarters.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Vikram Solar Limited
Vikram Solar Limited belongs to the Technology › Solar sector. Here’s a quick read on where the business and the stock stand today.
Vikram drops 25.1% over three months and trades near its 52-week lows. The PEG of 0.07 is extremely low. Either the market misses the growth story, or there is a catch worth investigating. Thin margins at 6.8% leave limited room for error — any demand softness or cost spike hits the bottom line hard. The stock sits at 2% of its 52-week range, close to annual lows. Historically, value investors build positions at these levels — though cheap stocks can stay cheap. The business compounds at 32.3% revenue and 219.0% profit CAGR, with D/E of 0.22. Yet the stock drops 25.1% in three months. The business does not deteriorate — the stock does. That gap is what long-term investors look for. Check Fundamentals of Vikram Solar Limited.
Solar
Solex Energy Limited (solex) to Unveil India’s First N-type Quarter Cell Solar Module
Solex Energy Limited (SOLEX) unveils India’s first N-Type Quarter Cell solar module at REI 2026, marking a new milestone in solar technology innovation.
Solex Energy Limited (NSE: SOLEX) is set to unveil India’s first N-Type Quarter Cell solar module at the Renewable Energy India (REI) Expo 2026, held from October 22 to 24 at India Expo Mart, Greater Noida. This launch marks a significant milestone in the company’s commitment to technological innovation and manufacturing excellence.
Advanced N-Type TOP-Con Technology
The new TAPI RQ module, powered by advanced N-Type TOP-Con Technology, offers a power output up to 670 Wp and a module efficiency of up to 24.80%. Combining Quarter Cell architecture with N-Type technology, the module is engineered to deliver enhanced energy generation, superior performance, and long-term reliability.
Enhanced Durability and Efficiency
Equipped with an IP68 rated junction box for protection against dust and water ingress, TAPI RQ is particularly suited for utility-scale and high-capacity solar projects. This innovation further strengthens Solex’s track record of bringing advanced photovoltaic technologies to the Indian market.
As part of its Vision 2030 roadmap, Solex Energy aims to establish a fully integrated renewable energy manufacturing ecosystem, comprising 10 GW of solar cell manufacturing capacity, 10 GWh of Battery Energy Storage Systems (BESS) manufacturing capacity, and 2 GW of wafer and ingot manufacturing capacity, backed by a proposed investment of ₹14,300 crore.
Solex continues its focus on technology leadership and customer-centric product development, reinforcing its commitment to strengthening India’s position in the global solar industry.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Solex Energy Limited
Solex Energy Limited belongs to the Technology › Solar sector. Here’s a quick read on where the business and the stock stand today.
Solex drops 36.5% over three months and trades near its 52-week lows. The PEG of 0.04 is extremely low. Either the market misses the growth story, or there is a catch worth investigating. Razor-thin margins below 5% make profitability extremely vulnerable — this business needs scale or pricing power urgently. RSI stands at 30, well into oversold territory. Yet sellers still dominated on 22 of recent sessions versus 8 for buyers, so the pressure has not fully lifted. Revenue grows at 115.5% and profits at 228.4% CAGR, with D/E of 0.00. Meanwhile, the stock dips 36.5% in three months without any fundamental deterioration. Consequently, the stock quietly becomes cheaper relative to earnings power. For long-term investors, that is a feature. Check Fundamentals of Solex Energy Limited.
Solar
Vikram Solar Limited (vikramsolr) Launches 9 GW Topcon Cell Plant at Gangaikondan: First Made-in-india Cells in December 2026
Vikram Solar Limited (NSE: VIKRAMSOLR) announces its 9 GW TOPCon cell plant in Gangaikondan, set to produce first cells in December 2026.
Vikram Solar Limited (NSE: VIKRAMSOLR) has announced the launch of its 9-GW N-type TOPCon solar cell manufacturing facility at SIPCOT Industrial Park, Gangaikondan, Tamil Nadu. The plant, which is set to produce its first cells in December 2026, will be fully commissioned in phases thereafter. This move marks a significant step for Vikram Solar as it transitions from a module maker to an integrated manufacturer, producing cells in-house for the first time.
Strategic Location and Capacity Expansion
The cell plant is strategically located on Vikram Solar’s nearly 200-acre integrated campus, co-located with the company’s existing 6-GW module plant. The facility is planned to expand its capacity to 12 GW in the future. This expansion will make Gangaikondan one of the few sites in India where ingots, wafers, cells, and modules are manufactured under one roof, enhancing supply chain efficiency and reducing logistics costs.
Employment and Future Roadmap
Upon completion, the campus will provide more than 2,000 direct and indirect employment opportunities. The cell plant is part of Vikram Solar’s broader integration roadmap, which includes a 9-GW ingot and wafer facility targeted for FY29. The roadmap aims to produce everything from wafers to modules on Indian soil, reducing dependency on imported cells and enhancing the company’s technological capabilities.
Gyanesh Chaudhary, Chairman & Managing Director of Vikram Solar, emphasized the importance of this development: ‘Cells are where the value, the technology, and the risk in a module sit, and in December we start making them here. It is the most important step in our integration journey, and not the last: our roadmap runs from wafer to module, on Indian soil.’ This strategic initiative aligns with Vikram Solar’s commitment to becoming a fully integrated solar PV manufacturer in India.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Vikram Solar Limited
Vikram Solar Limited belongs to the Technology › Solar sector. Here’s a quick read on where the business and the stock stand today.
Vikram drops 25.1% over three months and trades near its 52-week lows. The PEG of 0.07 is extremely low. Either the market misses the growth story, or there is a catch worth investigating. Thin margins at 6.8% leave limited room for error — any demand softness or cost spike hits the bottom line hard. The stock sits at 2% of its 52-week range, close to annual lows. Historically, value investors build positions at these levels — though cheap stocks can stay cheap. The business compounds at 32.3% revenue and 219.0% profit CAGR, with D/E of 0.22. Yet the stock drops 25.1% in three months. The business does not deteriorate — the stock does. That gap is what long-term investors look for. Check Fundamentals of Vikram Solar Limited.
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