Waaree Energies shares slipped 0.60% on Friday, closing lower after the company denied claims that its Gujarat plant had discharged untreated water into a local stream.
The stock has been under pressure all year, dropping 22.04% year‑to‑date and a staggering 32.87% over the last 12 months, underscoring a long‑term sell‑off despite the company’s attempts to reassure investors.
The allegations surfaced in a Mint piece that accused the firm of releasing reverse‑osmosis reject wastewater straight into the Chanandevi stream. The company’s statement—issued on the same day as the report—described the discharge as non‑hazardous and fully compliant with the Gujarat Pollution Control Board’s standards.
Waaree said it had cooperated with every audit and inspection, and that it had secured official clearances for its operations. “We implemented every compliance requirement, successfully passed fair audits, and received complete official clearances,” the statement read.
Investors will look for the company’s next earnings call, scheduled for late December, to see whether the environmental controversy will affect guidance. Meanwhile, analysts are watching how the sector’s regulatory climate could influence Waaree’s growth trajectory.