Wed Nov 06 11:34:02 UTC 2024: ## Waaree Energies Hits ₹1 Lakh Crore Market Cap, Surpasses Large-Caps in Just 8 Days
**Mumbai, India -** Waaree Energies, India’s largest manufacturer and exporter of solar modules, has achieved a significant milestone, crossing the ₹1 lakh crore market cap mark just eight days after listing on Indian stock exchanges. This positions the company as the 93rd largest listed company in India, surpassing established large-caps like Lupin, Hero MotoCorp, and Tata Consumer Products.
The company’s remarkable performance is driven by the government’s ambitious renewable energy targets, aiming for 500 GW of variable renewable energy capacity by 2030 and achieving Net Zero by 2070. As India’s energy demand continues to rise, driven by rapid industrialization, the renewable energy sector is poised for significant growth.
Waaree Energies has experienced a surge in its stock price since listing, reaching a new high of ₹3,743 today, representing an 8% jump. This robust growth has propelled the company into the ₹1 lakh crore market cap club, exceeding the market capitalization of several established large-caps.
The company’s impressive market share, holding a 21% share in the domestic solar module market and a 44% share in India’s solar module exports, highlights its dominant position in the industry. Waaree Energies has expanded its installed capacity from 2GW in FY21 to 13.3GW by FY24, showcasing its rapid growth and strong market presence.
This achievement underscores Waaree Energies’ strong potential within the renewable energy sector. The company’s rapid growth and impressive market share, coupled with the government’s ambitious renewable energy targets, have propelled its stock price to new heights and secured its position as one of India’s leading companies.
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