Shares of Waaree Energies witnessed a notable increase of over 7 percent on Tuesday after the company announced that it had secured a significant order to supply solar photovoltaic (PV) modules for renewable energy projects.

The order, which is valued at up to 1 gigawatt (GW) capacity, comes from a domestic firm focused on renewable energy projects. Following the announcement, Waaree Energies’ stock rose 7.2 percent on the National Stock Exchange (NSE), reaching Rs 3,185 per share. Similarly, at the Bombay Stock Exchange (BSE), the stock surged 7.18 percent to Rs 3,184.95 per share.

This move further solidifies Waaree Energies’ position in the renewable energy sector, particularly in the growing solar energy market in India.