Waaree Energies shares drop 2% after Kotak Equities initiates coverage with 'Sell' rating

Kotak anticipates Waaree to achieve a 12% compound annual growth rate (CAGR) in its module capacity, which is projected to reach 40 GW by 2035. Furthermore, Kotak forecasts a 14% volume CAGR for Waaree's modules through FY2035, supported by robust capacity expansion and high utilization rates.