Waaree Renewable Technologies stock hits new record high, zooms 50% in just 6 sessions; here's why

Waaree Renewable Technologies ' stock has been on a bullish trend, gaining 50% in the last six trading sessions. In CY23, the company's shares sawa meteoric rise of over 296%, and in CY22, it generated a return of 63.62%. On December 28, the company signed an agreement with Australia's 5B Industries to produce solar products in India. According to the company, this collaboration will open avenues for the commercialisation of the innovative 5B Maverick solar product, allowing for localisation, scalable production, and competitive deployment in India to supply to both local and international developers as well as EPC companies. On December 05, the company secured a letter of intent from a leading glass and window solution company for the engineering, procurement, and construction works of a 4.27-megawatt solar power project on a turnkey basis.