Waaree Renewable Technologies Board To Consider Stock Split; Shares Rise 10%

Shares of Waaree Renewable Technologies Ltd. soared 10% to a record high on Friday.

The solar energy products manufacturer's board is scheduled to meet on Jan. 20, to consider a stock split, according to an exchange filing.

Shares of the company rose as much as 10%, the highest since listing on the BSE on Aug. 9, 2012, before paring gains to trade 7.44% higher at 10:43 a.m. This compares to a 0.30% advance in the BSE Sensex.

The stock has risen 437.41% in 12 months. Total traded volume so far in the day stood at 4.2 times its 30-day average. The relative strength index was at 92.04, which implied that the stock is overbought.