Mumbai / New Delhi – December 5, 2025
Waaree Energies Ltd and its listed subsidiary Waaree Renewable Technologies Ltd (WAAREERTL) are back at the centre of investor attention today as a flurry of fresh news, analyst views and technical signals converge on the same date.
On 5 December 2025, investors are digesting:
- A bullish RSI divergence setup that traders say could trigger a bounce in Waaree Renewable Technologies’ stock. Early Times
- A fundamental deep-dive from Simply Wall St, arguing the market may be too pessimistic on WAAREERTL despite stellar returns on equity and earnings growth. Simply Wall St
- A new 288 MW solar module order in the United States for Waaree Energies’ US arm, Waaree Solar Americas, announced today. Capital Market
- A fresh MarketsMojo report downgrading Waaree Energies to “Hold”, citing mixed technical and valuation signals even as fundamentals remain strong. Markets Mojo
Together, these moves are pushing “Waaree Energies share” and “Waaree Renewable Technologies” up the Google Trends charts, as retail and institutional investors alike look for clarity on where the stock duo goes next. LatestLY
Why Waaree Is Trending on Google Today
Google Trends data for 5 December 2025 shows “waaree energies share” as a rising search term. A snapshot on LatestLY’s Google Trends tracker links that spike directly to two specific pieces of content:
- “RSI Divergence May Trigger a Bounce in Waaree Renewable Technologies Limited” – a technically driven note flagging a bullish divergence on the Relative Strength Index (RSI) for WAAREERTL and positioning it as a mean-reversion trade. Early Times
- “Could The Market Be Wrong About Waaree Renewable Technologies Limited (NSE:WAAREERTL) Given Its Attractive Financial Prospects?” – a long-form Simply Wall St analysis published today that focuses on the company’s high return on equity and earnings trajectory. Simply Wall St
In other words, two very different lenses – technical trading and long‑term fundamentals – are converging on the same stock on the same day, which is exactly the sort of setup that tends to ignite retail curiosity and social buzz.
Technical Picture: RSI Divergence Points to a Potential Bounce in WAAREERTL
The technical story around Waaree Renewable Technologies Ltd (NSE: WAAREERTL) has shifted significantly over the past few weeks.
From sharp correction to RSI divergence
- After a spectacular multi‑year run – with cumulative returns reported at over 60,000% from earlier levels – WAAREERTL has seen a sharp pullback, falling about 16% over the past month. The Economic Times
- MarketsMojo’s 1 December technical note described the name as moving from a “mildly bullish” trend into sideways momentum, with:
- MACD turning mildly bearish on weekly and monthly time frames
- Bollinger Bands signalling pressure
- Mixed readings across RSI and other oscillators. Markets Mojo
At the same time, the RSI-based research highlighted by EarlyTimes and mirrored across several financial content sites points to a bullish RSI divergence – downside in price while RSI begins to flatten or tick higher – which traditionally hints that selling momentum is fading. Early Times
Independent posts and ideas on TradingView echo that setup: WAAREERTL is described as consolidating after a steep drop, with a bullish RSI divergence and price stabilising near the 200‑day moving average, suggesting a possible mean‑reversion bounce if support holds. TradingView
What RSI divergence actually means here
For non‑technicians:
- RSI is a momentum indicator, usually on a 0–100 scale, used to gauge overbought or oversold conditions.
- A bullish divergence appears when price makes new lows but RSI makes higher lows, indicating that each new leg down is happening with weaker selling pressure.
In WAAREERTL’s case, that divergence is appearing after a massive long‑term rally and a meaningful recent correction – a context in which short‑term traders often look for a snap‑back or relief rally.
However, MarketsMojo’s broader technical dashboard still flags a “mixed” picture: weekly trend readings lean mildly bearish, and volume indicators such as On‑Balance Volume are not yet confirming a decisive bullish reversal. Markets Mojo
Takeaway:
Short‑term charts are sending a “downside fatigue, bounce possible” message, but the trend has not clearly flipped back to strong bullish yet.
Fundamental Case for Waaree Renewable: 53% ROE and Record Q2 FY26 Earnings
If the technical argument is about when the stock might bounce, the fundamental argument is about whether it deserves to.
Simply Wall St: High‑quality business, punished share price
In today’s article, Simply Wall St spotlights WAAREERTL’s very high return on equity:
- ROE estimated at around 53%, based on trailing 12‑month profit of roughly ₹3.5 billion on ₹6.6 billion of equity as of September 2025.
- Five‑year net income growth of about 68%, comfortably ahead of an industry average of roughly 36%. Simply Wall St
The piece argues that, in theory, companies that reinvest a large share of their profits at such high ROEs tend to see strong compounding in earnings, which markets usually reward over time. That’s why the recent 16% share price decline may not fully reflect the company’s fundamentals, in their view. Simply Wall St
Q2 FY26: Highest‑ever revenue and profit
The fundamentals look equally strong in the latest reported quarter:
- Revenue (Q2 FY26): ₹774.78 crore vs ₹524.47 crore in Q2 FY25, up 47.7% YoY.
- EBITDA: ₹157.94 crore vs ₹71.57 crore, up about 121% YoY.
- PAT: ₹116.34 crore vs ₹53.52 crore, up 117% YoY. Moneycontrol
- EBITDA margin expanded sharply to around 20% from nearly 14% a year earlier. Stocktwits
- The company’s unexecuted order book stands at roughly 3.48 GWp, with additional IPP investments in the pipeline, underlining visibility on future revenue. Business Standard
Management and independent coverage repeatedly describe this as WAAREERTL’s highest‑ever quarterly revenue and profit, underpinned by strong EPC execution, expanding capacity and diversification into battery storage and data‑centre‑linked infrastructure. WAAREE RTL
Sector backdrop remains supportive
The broader solar and renewables backdrop in India remains robust, with:
- India pushing towards 500 GW of renewable capacity by 2030. SolarQuarter
- Strong growth in utility‑scale and rooftop installations in recent quarters, as highlighted by multiple industry trackers and research firms. SolarQuarter
In that context, WAAREERTL’s positioning as a fast‑growing EPC player with a large order book and high ROE supports the “quality compounder” narrative driving the fundamental bull case.
Waaree Energies: Big US Order Lands on 5 December 2025
While traders focus on WAAREERTL’s RSI divergence, parent company Waaree Energies Ltd (NSE: WAAREEENER) delivered a concrete business win today.
288 MW solar modules order in the United States
On 5 December 2025, Waaree Energies announced that its wholly owned subsidiary Waaree Solar Americas has secured an order to supply 288 MW of solar modules to a “renowned” US‑based renewable energy developer:
- The customer develops, owns and operates utility‑scale solar and energy storage projects across the US.
- The shipments are scheduled for FY 2026–27, giving Waaree a multi‑year export revenue stream. Capital Market
Coverage from Business Standard, pv magazine India, Capital Market and MarketScreener all emphasises that this deal further strengthens Waaree’s presence in the US market, where it is already building a significant manufacturing footprint. Business Standard
Follows a wave of recent orders and leadership milestones
The 288 MW US order is not a one‑off:
- On 1 December 2025, Waaree Energies announced a 350 MW solar module order from AMPIN Energy Transition for India, highlighting continued domestic demand. IMARC Group
- Around the same time, the company disclosed an additional 140 MW module order in India, drawing attention in market commentary. The Economic Times
- In late November, Waaree Group secured a 10 MWh battery energy storage (BESS) order to be deployed in Tamil Nadu, signalling expanding capabilities in storage. SolarQuarter
- Just two days ago, SolarQuarter reported that Waaree Energies was ranked India’s No. 1 solar module supplier in Q3 2025, based on JMK Research’s market update. SolarQuarter
Add to that older but still relevant milestones like the 2 GW solar EPC contract with Jindal Renewables and international MoUs, and Waaree’s order book and project pipeline increasingly stretch across EPC, modules, storage and international projects. pv magazine India
MarketsMojo Downgrades Waaree Energies to “Hold” Despite Strong Fundamentals
Against that backdrop of new orders and sector leadership, MarketsMojo’s latest research note has cut Waaree Energies’ rating to “Hold”, and that is one of the most discussed headlines today. Markets Mojo
What the downgrade says
The MarketsMojo report highlights a “shift in market assessment” driven by:
- Strong but already‑priced‑in fundamentals
- Average ROE of ~23.5%
- Net sales and profits growing at robust double‑digit rates (sales up ~40% annually, profits up ~99% over the past year)
- Operating cash flow above ₹3,000 crore and a near‑zero debt‑to‑equity ratio, indicating a very clean balance sheet. Markets Mojo
- Premium valuation
- Price‑to‑book estimated around 7.5x, one of the highest in its “Other Electrical Equipment” peer group.
- The company accounts for over 25% of its sector’s market capitalisation and roughly 36% of sector sales, underlining its dominant position – but also raising questions about how much more re‑rating is left in the near term. Markets Mojo
- Mixed technicals
- The stock has dipped roughly 4% in the latest session, even as one‑year returns (~9.6%) still outpace the Sensex (~5.3%).
- Momentum indicators show some cooling after a strong multi‑quarter run, prompting the model to shift from an outright “Buy” to a more balanced “Hold”. Markets Mojo
In short, MarketsMojo is effectively saying: “Great company, but the risk‑reward is no longer as skewed in your favour at current prices.”
Regulatory Overhangs: Tax and Trade Probes Still in the Background
It’s also important to remember that regulatory and trade issues continue to hang over the Waaree story, particularly at the parent level:
- In September 2025, Reuters reported that US Customs and Border Protection had opened an investigation into possible solar tariff evasion involving Waaree Energies, alleging that certain modules labelled as Indian‑made may use Chinese cells subject to US duties. Reuters
- In July 2025, Waaree Renewable Technologies’ shares fell over 6% on news of a US trade petition seeking tariffs on solar panel imports from India, Indonesia and Laos. The Economic Times
- In November 2025, India’s Income Tax Department conducted investigations at multiple Waaree Energies offices and facilities, with the company stating it is fully cooperating and proceedings remain ongoing. Business Standard
These factors don’t negate the positive order flow or operational performance, but they contribute to valuation caution, especially among risk‑sensitive investors and global funds.
How the Stocks Are Trading on 5 December 2025
Mid‑session data and broker dashboards show a nuanced market reaction:
- Waaree Energies (WAAREEENER):
- Waaree Renewable Technologies (WAAREERTL):
- Quoted near the ₹980–1,000 band today, down a few percent intraday, with BSE order book data showing a modest negative bias in pre‑opening trades. Moneycontrol
- Over the previous month, the stock is down around 16%, but over a multi‑year horizon it remains one of the best‑performing renewable energy names on the Indian exchanges. Simply Wall St
The price action is consistent with the narrative: short‑term pressure, long‑term outperformance.
What It All Means for Investors
Putting the day’s news together, the picture looks like this:
- For short‑term traders
- WAAREERTL shows bullish RSI divergence and consolidation after a sharp pullback, offering a technical setup where a bounce is possible if key support levels hold. TradingView
- However, trend and volume indicators are still mixed, and volatility remains high, especially given ongoing trade and regulatory headlines.
- For long‑term investors in Waaree Renewable
- Fundamentals remain very strong: 53% ROE, record Q2 FY26 numbers, a multi‑GW order book and expanding adjacencies in storage and infrastructure. SolarQuarter
- The recent correction may reflect a normal reset after years of outsized gains and external macro risks rather than a collapse in business quality.
- For long‑term investors in Waaree Energies
- Today’s 288 MW US order, the recent 350 MW AMPIN deal, BESS wins and Q3 leadership ranking all reinforce its status as a scale player in global solar manufacturing. SolarQuarter
- The MarketsMojo downgrade to “Hold” doesn’t question the business; it questions whether current valuations leave enough upside after a strong run, especially with regulatory overhangs and cooling momentum. Markets Mojo
- Key things to watch next
- Execution of large US and Indian orders (pricing, margins, delivery timelines).
- Any updates from US and Indian authorities on trade and tax probes. Reuters
- How quickly WAAREERTL’s price action confirms – or invalidates – the current RSI divergence signal.
- Sector‑wide developments in solar tariffs, energy storage policy and India’s renewable tender pipeline.
