Waaree Energies Slips On Indosolar Stake Sale — SEBI Analyst Flags Bullish Setup Despite Near-Term Pressure
The analyst said that the stock is trading above key averages and demand zones, well supported by strong volumes.
Waaree Energies shares fell nearly 2% on Thursday as the company prepared to divest a 15% stake in Indosolar through a ₹305 crore offer for sale.
SEBI-registered analyst Sameer Pande said the technical and fundamental outlook for Waaree remains bullish, supported by earnings growth, order wins, and positive chart patterns.
SEBI Research Analyst
Waaree Energies ($WAAREEENER.NSE) is the largest manufacturer of solar Photo-voltaic (PV) modules in India. Its portfolio of solar energy products consists of the following PV modules: (i) multicrystalline modules; (ii) monocrystalline modules; and (iii) Tunnel Oxide Passivated Contact (TopCon) modules, comprising flexible modules, which includes bifacial modules (Mono PERC) (framed and unframed), and building integrated photo voltaic (BIPV) modules. $WAAREEENER.NSE has recently made headlines for expanding its renewable energy portfolio with three new subsidiaries focused on power projects, and executing a significant stake sale in Indosolar through an Offer for Sale (OFS) in mid-September 2025. The company also reported robust earnings growth and continued international order wins, further strengthening its technical and fundamental outlook. 📈 Technical Analysis – Daily, Weekly, Monthly On the daily timeframe, Waaree Energies is trading above its 20 Day EMA, indicating a bullish signal, corroborated by positive Supertrend and VWAP overlays. The weekly and monthly technical studies show consistent bullish patterns, with all key moving averages and technical oscillators (RSI, MACD, Stochastic) supporting the trend. The Supertrend is positive, and the price action remains above critical VWAP levels, suggesting sustained buying interest across timeframes. Demand and Supply Zones Main supply zones are seen between 3626-3680 where previous rallies faced resistance. Key demand zones are around 3540-3520 which are well supported by strong buying volumes and previous price consolidations. Overall, the technical setup aligns strongly with the bullish sentiment, backed by positive corporate developments and momentum across all major timeframes. $NIFTY50.NSE $NIFTYBANK.NSE Disclaimer: Investments in the securities market are subject to market risks. Registration by SEBI and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors. I don’t have any position in the same stock.
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Indosolar Stake Sale
The offer for sale (OFS) of Indosolar equity shares, valued at ₹305 crore, will open on Thursday, Sept. 18. Promoter Waaree Energies is offering 61 lakh shares, representing 15% of Indosolar’s issued and paid-up capital, to meet minimum public shareholding norms, according to a stock exchange filing.
The sale will be conducted via the BSE and NSE through the OFS mechanism. Indosolar’s equity shares carry a face value of ₹10 each, with the offer price set at ₹500, marking a nearly 4% premium to the last closing price.
Technical Outlook
Pande said Waaree Energies is trading above its 20-day exponential moving average (EMA) on the daily chart, supported by positive Supertrend and volume-weighted average price (VWAP) signals.
He added that weekly and monthly studies also show consistent bullish patterns, with indicators such as the relative strength index (RSI), moving average convergence divergence (MACD), and stochastic oscillators reinforcing the uptrend.
According to Pande, supply zones lie between ₹3,626 and ₹3,680, while demand zones are clustered around ₹3,540–₹3,520, areas backed by strong volumes and earlier consolidation.
Corporate Developments
Waaree Energies, India’s largest solar PV module maker, has recently expanded its renewable portfolio with three new subsidiaries focused on power projects. It has also reported strong earnings growth and secured fresh international orders.
Pande said the combination of positive fundamentals and bullish chart signals continues to support the stock’s medium-term outlook despite near-term pressure from the Indosolar divestment.
What Is The Retail Mood?
On Stocktwits, retail sentiment was ‘bearish’ amid ‘high’ message volume.
Waaree Energies’ stock has risen 23.5% so far in 2025.
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