Waaree Energies Slips On Indosolar Stake Sale — SEBI Analyst Flags Bullish Setup Despite Near-Term Pressure

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.

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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