Members of the promoter family in Premier Energies sold shares worth nearly Rs 2,289 crore in a large block deal, with multiple institutional investors picking up stake in the solar equipment maker. According to NSE bulk deal data, promoter group entities together sold 2.39 crore shares in the company at Rs 955 apiece.

The combined transaction value stood at around Rs 2,289 crore. Among the sellers, Surenderpal Singh Saluja sold 1.56 crore shares, while Manjeet Kaur Saluja offloaded 50.46 lakh shares. Charandeep Singh Saluja sold 13.08 lakh shares and Jasveen Kaur Saluja divested 19.37 lakh shares.

On the buy side, Smallcap World Fund Inc purchased 24.44 lakh shares, while Quant Mutual Fund bought 40.83 lakh shares. Nomura India Investment Fund Mother Fund acquired another 25 lakh shares. Other investors who bought the stake include Kotak Mahindra Life, SBI Life, Kotak MF among others

The entry of large institutional investors into the counter comes at a time when investor interest in renewable energy and domestic solar manufacturing companies remains elevated amid India’s clean energy push and import substitution efforts.

Premier Energies has also seen strong earnings momentum driven by rapid capacity expansion across modules and cells.

The company recently reported a 38% year-on-year increase in Q4 FY26 revenue to Rs 2,230 crore, while profit after tax rose 64% to Rs 450 crore. EBITDA during the quarter increased 28% year-on-year to Rs 670 crore, though EBITDA margin contracted 300 basis points to 30%.

The company’s module manufacturing capacity has now reached 11.1 GW, while cell capacity currently stands at 3.6 GW and is expected to expand to 10.6 GW through ongoing projects scheduled for commissioning later this year.Premier Energies recently commissioned its 5.6 GW Sitarampur module facility in Telangana and expects full ramp-up over the next few months.

According to Elara Securities, the company is aggressively expanding integrated manufacturing capacity, with a 4.8 GW cell expansion targeted for June 2026 and another 2.2 GW expansion planned for September 2026.

The brokerage said Premier Energies is undertaking aggressive FY27 capex of Rs 5,100 crore across solar cells, ingot-wafer manufacturing, batteries and inverters.

Elara Securities maintained its “Accumulate” rating on the stock and raised its target price to Rs 1,052 from Rs 886.

The brokerage said Premier Energies is “set to lead by FY28” among India’s solar equipment manufacturers, helped by backward integration and large-scale capacity additions.

Apart from solar manufacturing, the company has also been diversifying into transformers and power equipment through Transcom, where transformer capacity is expected to rise nearly sevenfold to 16.75 GVA by July 2026 with a focus on high-margin HV and EHV segments.

The latest promoter stake sale comes amid strong investor interest in renewable energy and domestic manufacturing-linked themes over the past year, supported by policy incentives, production-linked schemes and increasing domestic demand for solar equipment.

Nifty ended with sharp cuts on Thursday, ending its five-session winning streak. It fell amid significant selling pressure in financial stocks along with auto and FMCG counters, encountering strong resistance near the 24,000 mark.

Nilesh Jain, Vice President – Head of Technical and Derivative Research at Centrum Finverse said the index has formed a small bearish candle on the daily chart amid heightened volatility. Despite the fall, the broader market structure remains positive, and a buy-on-dips strategy continues to be favorable. A decisive breakout above 24,000 is crucial to trigger a potential short-covering rally towards the 24,500 zone. On the downside, immediate support is now placed at 23,500 levels. Meanwhile, the India VIX is hovering around the 20 mark, and any further decline could provide additional comfort to the bulls,” Jain said.

Here are 2 stocks to buy:

Buy Hindalco Industries at Rs 985.65 | Upside: 7%

Stop Loss: Rs 950

Target: Rs 1,057

The stock is showing a strong bullish setup as it attempts a breakout from a descending trendline within a consolidation range, indicating a potential continuation of the broader uptrend. Price is currently trading around 985 and holding above key short-term EMAs of 20 (921) and 50 (917), as well as the 100 EMA (890), reflecting sustained buying strength. The structure remains positive with higher lows forming near the rising support zone around 830. RSI is trending higher at 64, above its average near 47, signaling strengthening momentum. Fresh buying can be considered on sustained breakout above 990 with a stop loss below 950 zone.(Kunal Kamble, Sr. Technical Research Analyst, Bonanza Portfolio)

Buy Waaree Energies at Rs 3,232.3 | Upside: 8%

Stop Loss: Rs 3,100

Target: Rs 3,500

The stock is showing strength as it approaches a key resistance zone near 3230, indicating a breakout from a prolonged consolidation phase. Price is currently trading above its short-term EMAs of 20 (3,037) and 50 (2,973), and also above the 100 EMA (2961), reflecting improving trend structure and sustained buying interest. The recent higher lows formation supports positive price action. RSI is trending higher at 66, above its average near 62,

signaling strong momentum. Fresh buying can be considered on a sustained breakout above 3,230, with a stop loss placed below the 3,100 zone to manage risk.

(Kunal Kamble, Sr. Technical Research Analyst, Bonanza Portfolio)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

After a blistering 12% rally on Friday, Waaree Energies is back in the spotlight. With the stock inching closer to its April 2025 peak, Anand James of Geojit believes this breakout attempt may finally stick, setting the stage for fresh highs.

Edited excerpts from a chat with Anand James, Chief Market Strategist, Geojit Investments Limited on trading strategy for the week ahead:

Nifty has been struggling to move sustainably higher than the 25,000-mark for the last few weeks, as visible this time again. On the fundamental side, triggers are missing, but why is 25k such an important level to watch out for on the charts?
Yes, 25k is indeed a daunting challenge. Previous attempts to clear the same had proved to be short-lived as there was hardly any follow-through momentum, thus leading to a sharp withdrawal. Hence, the reapproach of the 25k mount is accompanied by concerns about sustainability. Being at the upper Bollinger band as well, it would require further momentum to continue the uptrend. ADX at 13.2 does not indicate strong momentum either. Nevertheless, upswing attempts may be seen initially, but may not clear the 25200-460 band. Alternatively, inability to float above 25045 could see dips, but will wait for 24865 to switch sides.

Give us your trading strategy for Nifty monthly expiry next week. What are the levels to watch out for?

We would be entering the expiry week with a surprise jump above 25000, that has attracted call OTM buyers only as far as 25500. The same pattern is visible in the 3rd July expiry contract as well with PE buying accumulated at 24800. This raises the expectation of a trading range limited to the 25500-24800 region, calling for a short strangle option strategy with these at the strikes for the two legs. An alternative approach would be to short straddle at 25000, with stop loss placed at 25500 and 24800 on either side.

With BSE and NSE swapping their expiry days with effect from September, how would your trading strategy change when it comes to index options?
Monday is now sandwiched between the weekend and expiry, elevating the caution that is usually commanded by day. Even though Monday has to deal with weekend news flows, there is always an optimism, being the start of the week. But with expiry falling on Tuesday, such vibes will be restrained. This would mean that premium expansion and directional entry-exits will be largely front loaded, as there will be little opportunity to escape from theta decay post Thursday, with Friday being the weekend eve and Monday being the expiry eve.For derivative traders, Thursday has been associated with Nifty expiry day for many years. Now with Sensex coming in on Thursday, how do you see trader interest evolving in Sensex contracts?
Since late 2023, Sensex F&O has seen a steady increase in trading volume. Between March and December 2024, it consistently accounted for about 70% of the total trading volume across both the NSE and BSE. This momentum accelerated further in January 2025, when the Sensex saw a 12% month-on-month volume spike, coinciding with its shift in weekly expiry from Friday to Tuesday. Now, a new phase of expiry restructuring is set to reshape this dynamic. From September 2025, the Nifty will move its expiry to Tuesday, while the Sensex will shift to Thursday. This change could significantly alter the volume patterns across the two exchanges.

Nifty may reclaim lost ground with Tuesday expiries, attracting traders looking to capitalize on early-week strategies and weekend time decay. This could lead to increased activity on Mondays and Tuesdays. Meanwhile, with Thursday as the new expiry, Sensex will see shorter positioning windows earlier in the week, which may temper the intense volume surges, especially on the expiry day. That said, the new trading dynamics will take a while to play out, and it is also possible that Sensex will get more opportunities to price the events of the week, having more trading days ahead of expiry. Time will tell.

The broader market underperformed this week. Are the charts hinting at a revival in small and midcaps?
The weakness in the small and mid-caps was visible throughout the week. On Thursday, when Nifty closed almost flat, the small cap 250 index fell nearly 2%. And on Friday, when Nifty rose 1.29%, small cap 250 index rose only 0.6%. Friday’s optimistic rise has not managed to retrace even 50% of Thursday’s fall, raising fears of an extended fall to 16650-16500. Alternatively, a rise above 16900 will help shrug off the weakness, but we feel that upsides may be limited.

Waaree Energies surprised investors on Friday with a sharp 12% jump. How to trade the stock on Monday?
An outright jump from one end to the other end of the Bollinger will render the stock unattractive to jump into right away. But we feel that the April 2025 peak, which the stock has attempted several times unsuccessfully, will be broken in this attempt. Longs entered on dips to 2895 may have stop loss placed below 2822.

Give us your top ideas for the week ahead
VIPIND (CMP: 409)
Target – 450
Stoploss – 399

The stock recently confirmed a breakout from an inverted Head & Shoulders pattern and continues to maintain its upward momentum. On the monthly chart, the SMIO histogram has crossed above the zero line, suggesting a shift in long-term sentiment. Additionally, the RSI is holding near 60, indicating sustained strength without being overbought. On the daily timeframe, the appearance of an inverted hammer—a classic bullish reversal signal following a dip—adds further conviction to the upside potential.

Based on this technical setup, the stock is expected to move toward the 450 mark in the near term. To manage risk, a stop-loss should be placed just below ₹399.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

Waaree Energies shares will be in focus on Wednesday after the solar panel maker reported a strong Q4 performance, with net profit rising 34.1% year-on-year (YoY) to Rs 618.9 crore for the quarter ended March 31, 2025.

In the same quarter last year, the company had reported a profit of Rs 461.5 crore. Revenue from operations jumped 36.4% to Rs 4,003.9 crore, up from Rs 2,935.8 crore in the year-ago period, according to the company’s regulatory filing.

EBITDA more than doubled to Rs 922.6 crore in Q4 FY25, up 120.6% from Rs 418.3 crore in the same quarter last year. The EBITDA margin improved to 23% from 14.3% a year ago.

The company produced 2.06 GW of solar modules in the fourth quarter, up from 1.35 GW in the same period last year. For the full year, module production reached 7.13 GW, compared to 4.77 GW in FY24.

For the full financial year FY25, revenue rose 27.62% YoY to Rs 14,846.06 crore. Profit after tax more than doubled to Rs 1,932.15 crore, a 107.08% rise over FY24.

To support future growth, the company’s board approved new capacity additions. These include a 1.6 GW module line at its facility in Brookshire, Texas, and new manufacturing lines with a total capacity of 3.2 GW at its Chikhli plant near Pune.Amit Paithankar, Whole Time Director and CEO, Waaree Energies Ltd, said, “FY25 marks a pivotal inflection point in Waaree’s journey — a year where our strategy, scale, and execution converged to deliver industry-leading EBITDA performance of ₹3,123.20 crore. This performance underscores the strength of our execution capabilities and the quality of our order book, with a centred focus on margins.”Also Read: $1 million Bitcoin by 2035? Rich Dad Poor Dad author Robert Kiyosaki’s bold prediction draws mixed reactions from crypto experts

Waaree Energies shares price target

As per Trendlyne data, the average target price of the stock is Rs 2,254, which shows a downside of 14% from the current market prices. The consensus recommendation from 4 analysts for the stock is a ‘Hold’.

Waaree Energies shares price performance

On Tuesday, Waaree Energies shares closed at Rs 2,611.8 on the BSE, up 6.9%, while the benchmark Sensex surged 0.24%. The stock is down 9% year-to-date but gained 11% over the past one month. Its market capitalisation currently stands at Rs 75,034 crore.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

The fourth quarter earnings season is picking up momentum and on Tuesday as many as 16 companies will announce their quarterly numbers. Key earnings to watch out include from Waaree Energies, Tata Communications and HCL Tech.

Apart from the above, Cyient DLM, Havells India, Delta Corp, JMU Fintech, Mahindra Financial, Hathway Cable and Datacom, Choice International, Cistro Telelink among others will declare their results.

HCL Technologies Q4 expectations

IT services company HCL Technologies is likely to see a sequential revenue drop in constant currency terms, in line with other IT peers, mainly due to seasonal weakness in the products business.Revenue from operations during the fourth quarter will be around 5% year-on-year (YoY), according to an average estimate of six brokerages. Net profit growth in the same period is seen 8% YoY

EBIT margin is likely to decline sequentially, led by lower contribution of software sales; Residual wage hike will have -50 bps QoQ impact.

Analysts believe HCL Technologies will guide for 3-5% revenue growth. Guidance will include a 100 bps contribution from the CTG acquisition. The EBIT margin guidance band is expected around 18-19% and likely to stay unchanged.

Investor focus will be on decision-making slowdown and the impact of macro deterioration on the overall business, new deal TCV that has been fairly modest over the past few quarters, impact to revenues, if any, from the Verizon deal anniversary, revenue growth in the June quarter, a seasonally weak quarter for the company.

Within IT services, growth in BFSI, Hi-Tech and inorganic contribution of HPG CTE will be offset by the ramp-down/offshoring at Verizon and negative impact of foreign exchange.

“Overall, on a QoQ basis, we expect organic CC decline of 1.7% and c1% decline in USD terms. We expect seasonally lower revenues for the products business, flat QoQ revenue for IT services and modest growth for their ER&D business,” said HSBC.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Kotak Institutional Equities initiated coverage with a ‘Sell’ rating and set a target price of Rs 2,550.

Kotak expects Waaree to see a 12% compound annual growth rate (CAGR) for its module capacity, which is expected to reach 40 GW by 2035. Additionally, Kotak projects a 14% volume CAGR for Waaree’s modules until FY2035, driven by strong capacity addition and utilization rates.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)