Waaree Energies share price declined 2.11 percent on Friday. The company has witnessed nearly 17 percent decline this year, mainly due to selling in Indian markets.

Waaree Energies share price declined by 1.5 percent on Friday.

Indian markets were trading firm on Monday and NSE Nifty is currently above major resistance levels at 24,430.

HDFC Securities has initiated a Buy recommendation for the Waaree Energies Limited IPO, citing the company’s robust position as India's largest solar PV manufacturer.