Waaree Energies shares slid as much as 2.7% on Tuesday, extending a relentless selloff to a ninth straight session and dragging the stock down nearly 15% in just over a week, as weak technical signals continued to weigh on investor sentiment despite a recent capital raise at its energy storage arm.
The stock fell to as low as Rs 2,642 on the BSE on January 6, taking its cumulative decline over the past nine trading sessions to 14.6%. The sustained slide has come even as the company disclosed a Rs 1,003-crore fundraise to support an ambitious expansion plan in advanced battery manufacturing.
From a technical standpoint, Waaree Energies is flashing strong bearish signals. The stock is currently trading below all eight of its key simple moving averages, including the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day and 200-day SMAs, pointing to persistent weakness across short-, medium- and long-term charts.
Momentum indicators also remain under pressure. The Relative Strength Index stands at 27.1, below the 30 mark that is widely seen as oversold, a level that can sometimes signal the potential for a rebound. At the same time, the Moving Average Convergence Divergence is at -70.6 and remains below both its centre and signal lines, reinforcing a strong bearish indicator.
The decline has unfolded even as the company informed exchanges on January 5 that its subsidiary, Waaree Energy Storage Solutions, raised Rs 1,003 crore from strategic investors, including high-net-worth individuals, family offices and institutional backers.
The fundraise forms part of Waaree’s broader Rs 10,000-crore capital expenditure plan to set up a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility, the company said in a statement. The proposed plant will focus on producing high-performance cells and battery packs for utility-scale storage systems, electric mobility and distributed energy applications.
“With this investment, the Waaree Group is rapidly evolving into a fully integrated energy transition player, spanning solar modules, inverters, batteries, energy storage systems and emerging clean energy technologies,” the company said, adding that the integration of storage manufacturing would strengthen its ability to deliver end-to-end solutions critical for grid stability and renewable energy penetration.
Waaree Energies was also among four stocks added to the National Stock Exchange’s futures and options segment, with contracts becoming effective from December 31, 2025. The other additions were Bajaj Holdings and Investment, Premier Energies and Swiggy.
Inclusion in the derivatives segment is generally seen as improving liquidity, visibility and trading opportunities for a stock, while allowing investors to hedge their portfolios. Despite this, Waaree Energies shares have remained under sustained selling pressure in recent sessions.
Curated by David Kim
