Jefferies sees benefits for India's Waaree Energies from rising solar installations

Waaree Energies

17/03/2025 06:06

** Shares of Waaree Energies WAAN.NS rise 2% to 2,165.55 rupees apiece

** Jefferies initiates the coverage of the renewable energy company at "hold" rating

** Brokerage sees WAAN as a key beneficiary of the potential 24% growth in India's solar installations over fiscal years 2024 and 2030

** Indian government's policy in favour of domestic solar modules makers and U.S. policy shunning Chinese modules have created attractive economics for WAAN, according to Jefferies

** WAAN shares are down 24% in 2025 so far, according to data compiled by LSEG

 (Reporting by Bharath Rajeswaran in Bengaluru)

 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))