< -5%

-5% to -3%

Asian Energy

Selan Explore

Veedol Corp

Dolphin Offshor

Aban Offshore

Jindal Drilling

-3% to 0%

ONGC

Reliance

Petronet LNG

Deep Ind

Oil India

HOEC

0% to 3%

Continent Petro

3% to 5%

Shares of Premier Energies and Waaree Energies fell up to 2 percent each in the morning on January 8 after Kotak Institutional Equities initiated coverage on the two renewable energy companies by recommending a 'sell' call for both.

The brokerage has set a target price of Rs 2,550 for Waaree Energies, indicating an 8 percent downside from Tuesday’s closing price. For Premier Energies, the target is Rs 770, suggesting a steeper decline of 41 percent from current levels.

<a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-08-01-2025-liveblog-12905356.html">Follow our LIVE blog for all the latest market updates</a>

Despite forecasting a strong Compounded Annual Growth Rate (CAGR) of 44 percent for Premier Energies between FY24 and FY30, Kotak cited the stock's high valuations as a concern, driving its bearish stance. The firm also highlighted the potential of India’s solar sector, projecting an 18 percent CAGR in utility-scale solar capacity additions through FY30.

Kotak believes that integrated manufacturers with capabilities spanning from ingots to modules, as well as those with U.S.-based manufacturing, will benefit from a competitive edge in the medium term, enabling stronger profitability. However, elevated valuations remain a key issue for both stocks. For Waaree Energies, the brokerage expects a 35 percent earnings CAGR over the same period but still maintains a "sell" rating.

India’s solar sector is set to grow significantly over the next decade as the country targets 500 GW of renewable energy capacity by 2030. Solar capacity is projected to increase from 82GW in FY24 to 214GW by FY30, driven by utility-scale projects, rooftop installations, solar pumps, and captive industrial use.

Also read: <a href="https://www.moneycontrol.com/news/business/markets/demat-account-growth-falls-to-four-quarter-low-sees-sharpest-ever-fall-12905449.html">Demat account growth falls to four-quarter low; sees sharpest decline ever</a>

Indian solar equipment manufacturers are well-positioned to benefit from this expansion, supported by favourable domestic and international policies. Key drivers include import tariffs on Chinese solar products, local requirements like ALMM and DCR in India, and the Uyghur Forced Labor Prevention Act in the US, the Kotak report said.

Kotak Institutional Equities highlights that current margins and returns in most manufacturing categories are attractive. However, with several companies planning to expand capacity, margins and return ratios could stabilize in the medium term. Integrated manufacturers covering the entire supply chain, from ingots to modules, and firms with manufacturing facilities in the US, are expected to maintain better profitability and utilization rates over time.

Since listing, Premier Energies’ stock has surged nearly 190 percent from its IPO price of Rs 450, while Waaree Energies has almost doubled from its issue price of Rs 1,503. However, Kotak’s analysis suggests that both stocks may have outpaced their fair valuations.

Read more: <a href="https://www.moneycontrol.com/news/business/ipo/sebi-asks-ipo-bound-companies-to-disclose-whistleblower-complaints-12905411.html">Sebi asks IPO-bound companies to disclose whistleblower complaints</a>

On the other hand, shares of Waaree Energies were off to a rocking start on its stock market debut on October 28 after listing at Rs 2,500, commanding a massive premium of 66.3 percent over the issue price of Rs 1,503 per share on the National Stock Exchange (NSE). The listing gains, however, missed grey market estimates where shares were trading at a premium of 84 percent.

At 11:20 am, shares of Premier Energies were trading at Rs 1,276, lower by 2.2 percent from the last close on the NSE. Waaree Energies shares traded at Rs 2,720, lower by 2 percent from the last closing price.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Premier, Waaree Energies share slide 2% as Kotak Institutional Equities initiates with 'sell'

Shares of Premier Energies and Waaree Energies fell up to 2 percent each in the morning on January 8 after Kotak Institutional Equities initiated coverage on the two renewable energy companies by recommending a 'sell' call for both.

The brokerage has set a target price of Rs 2,550 for Waaree Energies, indicating an 8 percent downside from Tuesday’s closing price. For Premier Energies, the target is Rs 770, suggesting a steeper decline of 41 percent from current levels.

Follow our LIVE blog for all the latest market updates

Despite forecasting a strong Compounded Annual Growth Rate (CAGR) of 44 percent for Premier Energies between FY24 and FY30, Kotak cited the stock's high valuations as a concern, driving its bearish stance. The firm also highlighted the potential of India’s solar sector, projecting an 18 percent CAGR in utility-scale solar capacity additions through FY30.

Kotak believes that integrated manufacturers with capabilities spanning from ingots to modules, as well as those with U.S.-based manufacturing, will benefit from a competitive edge in the medium term, enabling stronger profitability. However, elevated valuations remain a key issue for both stocks. For Waaree Energies, the brokerage expects a 35 percent earnings CAGR over the same period but still maintains a &quot;sell&quot; rating.

India’s solar sector is set to grow significantly over the next decade as the country targets 500 GW of renewable energy capacity by 2030. Solar capacity is projected to increase from 82GW in FY24 to 214GW by FY30, driven by utility-scale projects, rooftop installations, solar pumps, and captive industrial use.

Also read: Demat account growth falls to four-quarter low; sees sharpest decline ever

Indian solar equipment manufacturers are well-positioned to benefit from this expansion, supported by favourable domestic and international policies. Key drivers include import tariffs on Chinese solar products, local requirements like ALMM and DCR in India, and the Uyghur Forced Labor Prevention Act in the US, the Kotak report said.

Kotak Institutional Equities highlights that current margins and returns in most manufacturing categories are attractive. However, with several companies planning to expand capacity, margins and return ratios could stabilize in the medium term. Integrated manufacturers covering the entire supply chain, from ingots to modules, and firms with manufacturing facilities in the US, are expected to maintain better profitability and utilization rates over time.

Since listing, Premier Energies’ stock has surged nearly 190 percent from its IPO price of Rs 450, while Waaree Energies has almost doubled from its issue price of Rs 1,503. However, Kotak’s analysis suggests that both stocks may have outpaced their fair valuations.

Read more: Sebi asks IPO-bound companies to disclose whistleblower complaints

On the other hand, shares of Waaree Energies were off to a rocking start on its stock market debut on October 28 after listing at Rs 2,500, commanding a massive premium of 66.3 percent over the issue price of Rs 1,503 per share on the National Stock Exchange (NSE). The listing gains, however, missed grey market estimates where shares were trading at a premium of 84 percent.

At 11:20 am, shares of Premier Energies were trading at Rs 1,276, lower by 2.2 percent from the last close on the NSE. Waaree Energies shares traded at Rs 2,720, lower by 2 percent from the last closing price.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Shares of Ashiana Housing extended gains to second straight day, rising up to 8.5 percent to Rs 395 apiece on January 8 after it showcased a strong December quarter (Q3FY25) business update. With this, the stock of this realty player has surged over 9 percent in two days.

Over the past 3 months, shares of Ashiana Housing has surged over 25 percent, beating benchmark Nifty 50's 4 percent decline. Earlier, Ashiana Housing had hit fresh 52-week high of Rs 468 apiece on June 20, 2024.

<a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-08-01-2025-liveblog-12905356.html">Catch all the market action on our LIVE blog</a>

In its Q3FY25 update, Ashiana Housing reported a 161 percent year-on-year (YoY) increase in the value of area sold, reaching Rs 454.31 crore compared to Rs 173.88 crore in the same period last year. However, on a sequential basis, the value of area sold declined by 32 percent.

The company's area booked saw a 101 percent YoY growth, totaling 6.75 lakh square feet, up from 3.35 lakh square feet a year ago. Ashiana Housing recorded 451 units booked in Q3FY25, compared to 482 units in Q2FY25 and 252 units in Q3FY24.

Additionally, the sale value rose by 45 percent YoY, primarily driven by the launch of Amarah Phase 4 in Gurugram, where 3.49 lakh sq ft out of 4.79 lakh sq ft was sold in the first nine months of FY25, generating a sale value of Rs 503.81 crore. The total sale value for the area booked stood at Rs 1,362.17 crore in 9MFY25, up from Rs 935.68 crore in 9MFY24.

Ashiana Housing is an Indian real estate developer, primarily focused on creating residential projects. The company specialises in building homes that cater to a wide range of needs, offering options from budget-friendly to luxurious living spaces.

Additionally, Ashiana Housing serves the mid-segment market by providing affordable housing solutions for families seeking quality living at accessible prices.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Ashiana Housing extends gain to 2nd day, jumps 8% on strong Q3 business update

Shares of Ashiana Housing extended gains to second straight day, rising up to 8.5 percent to Rs 395 apiece on January 8 after it showcased a strong December quarter (Q3FY25) business update. With this, the stock of this realty player has surged over 9 percent in two days.

Over the past 3 months, shares of Ashiana Housing has surged over 25 percent, beating benchmark Nifty 50's 4 percent decline. Earlier, Ashiana Housing had hit fresh 52-week high of Rs 468 apiece on June 20, 2024.

Catch all the market action on our LIVE blog

In its Q3FY25 update, Ashiana Housing reported a 161 percent year-on-year (YoY) increase in the value of area sold, reaching Rs 454.31 crore compared to Rs 173.88 crore in the same period last year. However, on a sequential basis, the value of area sold declined by 32 percent.

The company's area booked saw a 101 percent YoY growth, totaling 6.75 lakh square feet, up from 3.35 lakh square feet a year ago. Ashiana Housing recorded 451 units booked in Q3FY25, compared to 482 units in Q2FY25 and 252 units in Q3FY24.

Additionally, the sale value rose by 45 percent YoY, primarily driven by the launch of Amarah Phase 4 in Gurugram, where 3.49 lakh sq ft out of 4.79 lakh sq ft was sold in the first nine months of FY25, generating a sale value of Rs 503.81 crore. The total sale value for the area booked stood at Rs 1,362.17 crore in 9MFY25, up from Rs 935.68 crore in 9MFY24.

Ashiana Housing is an Indian real estate developer, primarily focused on creating residential projects. The company specialises in building homes that cater to a wide range of needs, offering options from budget-friendly to luxurious living spaces.

Additionally, Ashiana Housing serves the mid-segment market by providing affordable housing solutions for families seeking quality living at accessible prices.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Kotak Institutional Equities has initiated coverage on Waaree Energies Ltd with a sell rating and kept a target price of Rs 2550 a share, down 7 percent from its current market price due to elevated valuations.

Kotak’s price target for Waaree Energies reflects a strong growth outlook, with expectations of a 12% CAGR in module capacity, reaching 40 GW/32 GW by 2035. This growth is supported by a 14% volume CAGR in module sales, driven by capacity expansion and 70%+ utilisation rates. Waaree’s EBITDA margins are projected to stabilise at 19.4% by FY2035, with a cost of equity at 13% and WACC at 12.6%. The terminal value is pegged at 2x the FY2035E book value, in line with Chinese peers.

As India’s largest solar module manufacturer, Waaree is poised to maintain its market dominance, with plans to expand its capacity to 19.3 GW for modules, 11.4 GW for cells, and 6 GW for wafers by 2027. The company’s vertical integration is expected to boost EBITDA margins from 13.8% in FY2024 to 23.6% by FY2027. In the US, Waaree plans to scale its capacity from 1.6 GW in FY2025 to 5 GW by FY2027, aligning with local demand. The company’s future growth will also be driven by its EPC subsidiary WRTL and new ventures in electrolysers and BESS systems, Kotak said.

Kotak forecasts a 35% PAT CAGR for Waaree over FY2024-30E, supported by domestic capacity expansion, US cell manufacturing, and higher capacity utilisation. Margins are expected to improve due to vertical integration, although increased competition may put pressure on margins from FY2028. Waaree is expected to fund growth through operating cash flows and IPO proceeds.

Kotak initiates coverage on Waaree Energies with a sell rating, target price at Rs 2,550 a share

Kotak Institutional Equities has initiated coverage on Waaree Energies Ltd with a sell rating and kept a target price of Rs 2550 a share, down 7 percent from its current market price due to elevated valuations.

Kotak’s price target for Waaree Energies reflects a strong growth outlook, with expectations of a 12% CAGR in module capacity, reaching 40 GW/32 GW by 2035. This growth is supported by a 14% volume CAGR in module sales, driven by capacity expansion and 70%+ utilisation rates. Waaree’s EBITDA margins are projected to stabilise at 19.4% by FY2035, with a cost of equity at 13% and WACC at 12.6%. The terminal value is pegged at 2x the FY2035E book value, in line with Chinese peers.

As India’s largest solar module manufacturer, Waaree is poised to maintain its market dominance, with plans to expand its capacity to 19.3 GW for modules, 11.4 GW for cells, and 6 GW for wafers by 2027. The company’s vertical integration is expected to boost EBITDA margins from 13.8% in FY2024 to 23.6% by FY2027. In the US, Waaree plans to scale its capacity from 1.6 GW in FY2025 to 5 GW by FY2027, aligning with local demand. The company’s future growth will also be driven by its EPC subsidiary WRTL and new ventures in electrolysers and BESS systems, Kotak said.

Kotak forecasts a 35% PAT CAGR for Waaree over FY2024-30E, supported by domestic capacity expansion, US cell manufacturing, and higher capacity utilisation. Margins are expected to improve due to vertical integration, although increased competition may put pressure on margins from FY2028. Waaree is expected to fund growth through operating cash flows and IPO proceeds.

Jindal Worldwide shares surged five percent to hit a record high in the morning session on January 8, after the firm announced a bonus share issuance in a 4:1 ratio. Investors that hold one share of Jindal Worldwide shares by the record date will be eligible to receive four new shares.

The bonus equity shares will be issued out of free reserves and/or the securities premium account available as at 31st March, 2024, the firm said in a filing with the exchanges.

At 10.50 am, shares of Jindal Worldwide were quoting Rs 457.35 on the BSE, higher by 2.5 percent compared to the previous session's closing price.

<a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-08-01-2025-liveblog-12905356.html">Follow our market blog to catch all the live updates</a>

Jindal Worldwide is set to boost its authorized share capital and amend the capital clause in its memorandum of association. After the bonus issue, the company’s paid-up capital will increase to Rs. 100.26 crore, consisting of 100.26 crore fully paid-up equity shares.

Currently, the paid-up capital stands at Rs. 20.05 crore, with 20.05 crore shares. The bonus shares are expected to be distributed to shareholders by March 6, 2025, within two months of the board’s approval.

Jindal Worldwide shares have jumped 44 percent over the past 12 months, while the Nifty 50 index has gained a little more than 10 percent during the same time.

Founded in 1952 and part of the Rs 18,000 crore BC Jindal Group, the company has two major factories in West Bengal. In addition to serving the Indian market, Jindal India exports steel products to Latin America and the Far East, making it a key player in both the domestic and international steel industries.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Jindal Worldwide shares jump 5% on announcing 4:1 bonus issue

Jindal Worldwide shares surged five percent to hit a record high in the morning session on January 8, after the firm announced a bonus share issuance in a 4:1 ratio. Investors that hold one share of Jindal Worldwide shares by the record date will be eligible to receive four new shares.

The bonus equity shares will be issued out of free reserves and/or the securities premium account available as at 31st March, 2024, the firm said in a filing with the exchanges.

At 10.50 am, shares of Jindal Worldwide were quoting Rs 457.35 on the BSE, higher by 2.5 percent compared to the previous session's closing price.

Follow our market blog to catch all the live updates

Jindal Worldwide is set to boost its authorized share capital and amend the capital clause in its memorandum of association. After the bonus issue, the company’s paid-up capital will increase to Rs. 100.26 crore, consisting of 100.26 crore fully paid-up equity shares.

Currently, the paid-up capital stands at Rs. 20.05 crore, with 20.05 crore shares. The bonus shares are expected to be distributed to shareholders by March 6, 2025, within two months of the board’s approval.

Jindal Worldwide shares have jumped 44 percent over the past 12 months, while the Nifty 50 index has gained a little more than 10 percent during the same time.

Founded in 1952 and part of the Rs 18,000 crore BC Jindal Group, the company has two major factories in West Bengal. In addition to serving the Indian market, Jindal India exports steel products to Latin America and the Far East, making it a key player in both the domestic and international steel industries.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Shares of Borosil Renewables were locked in the 5 percent upper circuit at Rs 574.40, for a second consecutive session on January 8 after the company's promoter recently increased their holding.

On January 6, promoter Kiran Kheruka acquired 96,000 shares of <a href="https://www.moneycontrol.com/india/stockpricequote/glassglass-products/borosilrenewablesltd/BGW">Borosil Renewables</a>, representing a 0.07 percent stake in the company through open market transactions. The transaction that was worth Rs 5.4 crore, took Kheruka's holding in the company from 3.57 percent to 3.64 percent. Promoter increasing stake in a company is generally seen as a positive sign, reflecting confidence over its growth prospects.

A similar trend was seen for Borosil Renewables as well, given that the stock was surged to its 5 percent upper circuit for two straight sessions after the news of promoter buying.

<a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-08-01-2025-liveblog-12905356.html">Follow our market blog to catch more</a>

Meanwhile, the company is expected to witness improved growth prospects, especially after the government imposed anti-dumping duty on solar glass imports from China and Vietnam last month.

Chairman Pradeep Kumar Kheruka, in an interaction with NDTV-Profit stated that this anti-dumping duty will help Borosil Renewables restore its margins and profit to a healthy level.

&nbsp;

Kheruka also forcasted a 'very good future' for the solar industry. “We see a good run to this because there's a very large demand for solar energy in the country, and there's a very large requirement for solar panels. Therefore, we expect that there should be absolutely no problem in selling the capacity as soon as we have it,” he said.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Borosil Renewables stock in 5% upper circuit for 2nd day after promoter ups stake

Shares of Borosil Renewables were locked in the 5 percent upper circuit at Rs 574.40, for a second consecutive session on January 8 after the company's promoter recently increased their holding.

On January 6, promoter Kiran Kheruka acquired 96,000 shares of Borosil Renewables, representing a 0.07 percent stake in the company through open market transactions. The transaction that was worth Rs 5.4 crore, took Kheruka's holding in the company from 3.57 percent to 3.64 percent. Promoter increasing stake in a company is generally seen as a positive sign, reflecting confidence over its growth prospects.

A similar trend was seen for Borosil Renewables as well, given that the stock was surged to its 5 percent upper circuit for two straight sessions after the news of promoter buying.

Follow our market blog to catch more

Meanwhile, the company is expected to witness improved growth prospects, especially after the government imposed anti-dumping duty on solar glass imports from China and Vietnam last month.

Chairman Pradeep Kumar Kheruka, in an interaction with NDTV-Profit stated that this anti-dumping duty will help Borosil Renewables restore its margins and profit to a healthy level.

&amp;nbsp;

Kheruka also forcasted a 'very good future' for the solar industry. “We see a good run to this because there's a very large demand for solar energy in the country, and there's a very large requirement for solar panels. Therefore, we expect that there should be absolutely no problem in selling the capacity as soon as we have it,” he said.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Oil Exploration and Production Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Oil Exploration and Production industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q3 FY24-25

Stock News

Premier, Waaree Energies share slide 2% as Kotak Institutional Equities initiates with 'sell'

Ashiana Housing extends gain to 2nd day, jumps 8% on strong Q3 business update

Kotak initiates coverage on Waaree Energies with a sell rating, target price at Rs 2,550 a share

Jindal Worldwide shares jump 5% on announcing 4:1 bonus issue

Borosil Renewables stock in 5% upper circuit for 2nd day after promoter ups stake

Oil Exploration and Production Industry StocksCheck latest stock performance, list of stocks, earnings review & more details about the Oil Exploration and Production industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q3 FY24-25

Stock News

Premier, Waaree Energies share slide 2% as Kotak Institutional Equities initiates with 'sell'

Ashiana Housing extends gain to 2nd day, jumps 8% on strong Q3 business update

Kotak initiates coverage on Waaree Energies with a sell rating, target price at Rs 2,550 a share

Jindal Worldwide shares jump 5% on announcing 4:1 bonus issue

Borosil Renewables stock in 5% upper circuit for 2nd day after promoter ups stake

Oil Exploration and Production Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Oil Exploration and Production industry stocks.