Waaree Energies Ltd shares declined 1.39 per cent to ₹2,947.50 on Monday morning following the company’s announcement of strategic realignment of its planned 6 GW integrated solar manufacturing capacity across multiple geographies. The stock opened at ₹2,962 against the previous close of ₹2,989 and touched a high of ₹3,008 before retreating to an intraday low of ₹2,926.40.
The solar panel manufacturer’s CEO and Whole-time Director Dr Amit Paithankar announced the realignment through a board resolution passed on Sunday, stating the decision aims to accelerate project momentum and optimize resource utilisation in line with IPO objectives. The move comes as part of the company’s operational strategy to ensure timely execution of its manufacturing expansion plans.
Paithankar emphasised that construction activities at the Odisha facility remain active with awarded contracts being executed as planned. The company clarified it is not withdrawing from Odisha and continues to view the state as strategically important for long-term business operations. Waaree Energies expressed gratitude for the Odisha government’s support and indicated ongoing exploration of collaboration opportunities.
The realignment reflects the company’s efforts to maintain operational flexibility while positioning for sustainable growth across its manufacturing footprint. Investors appeared cautious about the strategic shift, with the stock trading below its opening levels during Monday’s session.