Announced Thu, 13 Aug · 19:23 IST
Waaree subsidiaries enter JV for semiconductor fab unit in Gujarat
WAAREEENER · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+0.7%1-day move
₹2687.00
prior close
₹2703.90
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-1.2-1.2-1.4-1.4+0.7+0.8-0.3-0.3-0.3—————
Up moveDown movePending
AI summary
Waaree Energies wholly-owned subsidiary Waaree Power and its step-down unit Waaree Semicon have signed a JV with SmartenGrand Ltd to manufacture semiconductor products including power application diodes and set up a semiconductor fabrication unit in Gujarat. Post-closing, WPPL will hold 86.83% and SGL 13.17% in Waaree Semicon. Waaree Semicon is newly incorporated and yet to start operations. The deal is not a related party transaction.
Likely market impact
Diversifies Waaree beyond solar into semiconductor manufacturing, a strategic growth move. Execution and capex risks remain as the fab unit is yet to be set up.