Waa Solar Ltd was locked at its upper circuit limit at RS 55.62 on the BSE, marking a sharp rise of RS 9.27 or 20.00% compared to its previous close of RS 46.35.

The stock opened at RS 48.95 and moved between a high of RS 55.62 and a low of RS 40.90 during the trading session. A total of 2.24 lakh shares were traded on the counter so far.

The BSE Group ‘M’ stock, with a face value of RS 10, touched its 52-week high of RS 125.90 on 27 December 2024, while the 52-week low of RS 40.90 was recorded on 29 December 2025. Over the past one week, the stock has traded within a range of RS 55.62 to RS 40.90.

At the current price level, the company’s market capitalization stands at RS 73.68 crore. Promoters hold a 67.86% stake in the company, while 32.14% is held by non-institutional investors.

The surge in the stock comes after Waa Solar received multiple Letters of Award (LoAs) worth around RS 225 crore from M.P. Urja Vikas Nigam (MPUVNL), a Government of Madhya Pradesh enterprise. These LoAs are for the implementation of grid-connected Solar PV power plants under the Surya Mitra Krishi Feeders Scheme, including feeder solarization under the PM KUSUM-C scheme, for the sale of power to MPPMCL. The projects are scheduled to be executed within 18 months.

Waa Solar is primarily engaged in solar power generation, undertaking solar power projects directly as well as through investments in special purpose vehicles (SPVs), associates, and subsidiary companies involved in solar energy generation.