India's Waaree Energies rise as Kotak expects new initiatives to boost earnings
ReutersMar 5, 2025 10:12 AM
Shares of Waaree Energies WAAN.NS rise 5% to 2,213.95 rupees, set to snap four-session losing streak
Company on Friday announced new initiatives - electrolyser manufacturing, battery energy storage systems, inverters and renewable power infrastructure - at its investor day
Kotak Institutional Equities says company would benefit from these initiatives in medium-term
Inverter business and acquisition of Enel pipeline to potentially add to earnings over next two-three years, Kotak says
Brokerage, however, flags uncertainties from U.S. President Donald Trump's tariff plans, which may weigh on WAAN
Kotak retains "reduce" rating on stock, cuts PT to 2,280 rupees from 2,550 rupees
WAAN down ~22% in 2025
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