Shares of Waaree Energies surged over 11 percent on Friday, June 20, after reports confirmed the stock’s likely inclusion in the upcoming FTSE global index rejig. The counter jumped to an intraday high of ₹2,975, as investors rushed to price in passive inflows ahead of the revision’s implementation.

FTSE Index Inclusion to Bring $49 Million Inflows

London-based Financial Times Stock Exchange (FTSE) is set to announce its latest index composition changes on June 20, with the resultant inflows expected to begin from June 23. As per brokerage estimates, Waaree Energies could attract $49 million in passive investments from global funds tracking the index.

Other stocks expected to benefit include Vishal Mega Mart with inflows pegged at $115 million, Hyundai Motor India at $56 million, Swiggy at $32 million, and NTPC Green Energy at $22 million. Afcons Infrastructure, OneSource Specialty Pharma, Sai Life Sciences, and Inventurus Knowledge are also set to enter the FTSE radar.

The inclusion not only increases liquidity but also enhances global visibility for Waaree, which has gained prominence in recent quarters as a major solar module supplier.

Waaree’s Strategic Expansion in the U.S. Adds Tailwinds

While the index development lifted sentiment, Waaree Energies also gained from positive media commentary around its resilience to U.S. policy changes, particularly former President Donald Trump’s “One Big Beautiful Bill”, which proposes cutting back renewable energy incentives.

The company has continued to gain traction in the U.S. market. Its American subsidiary, Waaree Solar Americas, has recently secured multiple large contracts, including a 586 MW module supply deal and a 599 MW order from top independent power producers

To meet growing demand, Waaree plans to double the capacity at its Brookshire, Texas facility to 3.2 GW by end of 2025—a move seen as strategically vital to cementing its global market position.

Stock Performance Snapshot

With Friday’s upmove, the stock now trades 22 percent below its 52-week high of ₹3,740.75, touched in November 2024. It had earlier slumped to a 52-week low of ₹1,808.65 in April 2025, indicating a wide trading range over the past year.

While June has so far seen a 2.3 percent decline, the stock had gained 14.4 percent in May, 8.3 percent in April, and 11.4 percent in March, following double-digit declines in February (-10%) and January (-16%).

Importantly, Waaree Energies has now rallied nearly 98 percent from its IPO price of ₹1,503, underlining investor confidence in its execution and prospects.

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