Waaree Energies saw a significant drop in its share prices on November 19, as the renewable energy firm reported that Income Tax Department officials had visited multiple offices and facilities. This information was duly released via an exchange filing on Monday, highlighting ongoing proceedings and the company’s complete cooperation with the authorities.
The announcement led to swift reactions in the market as trading resumed on Tuesday. At 9:55 am, Waaree Energies stock plummeted nearly 4% to Rs 3,156, even falling by as much as 6% in the early transactions. This decline occurred despite a strong year for the stock, which has recorded a 17% increase in 2025.
Investors displayed caution due to the unclear details surrounding the visit, as the company chose not to disclose further information. The market atmosphere remained vigilant while awaiting more updates from official sources.
Currently, the confirmation of ongoing investigations has introduced a wave of short-term market instability, prompting investors to closely monitor any developments that may arise.
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