Waaree Energies Limited shares experienced a decline on November 19, with a drop of 6.3 percent to Rs 2,916, putting an end to a four-day winning streak.

The decrease in share price followed the release of the company"s second-quarter earnings report, which did not meet market expectations. The report showed a modest 1 percent increase in revenue for the quarter, amounting to Rs 3,574.37 crore, while net profit rose by 15 percent to Rs 361 crore.

In a strategic move, the company"s board has approved an investment of Rs 600 crore into its wholly owned units. This funding will be used to develop infrastructure, including land and connectivity, in order to enhance renewable power projects and bidding pipelines.