Inox Wind, Suzlon, Waaree Energies, Premier Energies & Adani Green jump up to 12% ahead of Budget
Axis Securities said the focus will also be on announcements about energy storage solutions (ESS) like pumped hydro storage projects and battery energy storage systems (BESS).
- Feb 1, 2025,
- Updated Feb 1, 2025 9:56 AM IST
Renewable energy stocks such as Inox Wind Ltd and Suzlon Energy Ltd gained momentum in Saturday's special trading session ahead of the Union Budget 2025 presentation. Inox Wind shares surged 11.93 per cent to hit a high of Rs 188.45 and Suzlon again hit its 5 per cent upper circuit limit, currently placed at Rs 61.05.
A market expert from SMIFS didn't expect a 'slowdown' in both the companies' operations due to US President Donald Trump coming in as their businesses are mostly domestic. "Inox Wind and Suzlon look like excellent bets in the renewable energy space. The companies' order books are largely India-specific and I don't see any slowdown because of Trump coming in," Sharad Avasthi, Head of Research (PCG) at SMIFS," told Business Today.
Shares of Adani Green Energy Ltd moved up 5.09 per cent to hit Rs 1,050. Recently-listed Premier Energies Ltd and Waaree Energies climbed over 3 per cent, each.
To achieve the government's target of 500 GW of renewable energy capacity by 2030, market analysts expect a boost for the renewable sector in the Budget. Announcements towards the extension of the PLI scheme for the solar energy value chain, increased allocation towards rooftop solar (PM Suryaghar Yojana), expanding or modernising the transmission grid infrastructure and increase in allocation for smart metering infrastructure will be the key features to watch, they stated.
Besides, announcements towards trade barriers, such as additional basic customs duty (BCD) or anti-dumping duties on solar components, will be keenly eyed. The focus would be on non-trade barriers such as ALMM (Approved List of Models and Manufacturers) and whether to include solar panel supply chain components like Ingots and Wafers in the ALMM scheme.
"A push for renewables – government's PM Surya Ghar Yojana can drive a Rs 1.2 lakh crore rooftop solar ecosystem," said Emkay Global. It believes Premier Energies Ltd and Waaree Energies Ltd to be key beneficiaries of the expected Budget announcements.
Axis Securities said the focus will also be on announcements about energy storage solutions (ESS) like pumped hydro storage projects and battery energy storage systems (BESS). It anticipates likely Budget announcements to be positive for Waaree Energies Ltd, Premier Energies Ltd and Inox Wind Ltd, among other players.
An economic projection of the installed capacity in 2030 shows that the share of renewable energy, especially solar and wind, in the installed capacity may increase substantially.
Renewable energy stocks such as Inox Wind Ltd and Suzlon Energy Ltd gained momentum in Saturday's special trading session ahead of the Union Budget 2025 presentation. Inox Wind shares surged 11.93 per cent to hit a high of Rs 188.45 and Suzlon again hit its 5 per cent upper circuit limit, currently placed at Rs 61.05.
A market expert from SMIFS didn't expect a 'slowdown' in both the companies' operations due to US President Donald Trump coming in as their businesses are mostly domestic. "Inox Wind and Suzlon look like excellent bets in the renewable energy space. The companies' order books are largely India-specific and I don't see any slowdown because of Trump coming in," Sharad Avasthi, Head of Research (PCG) at SMIFS," told Business Today.
Shares of Adani Green Energy Ltd moved up 5.09 per cent to hit Rs 1,050. Recently-listed Premier Energies Ltd and Waaree Energies climbed over 3 per cent, each.
To achieve the government's target of 500 GW of renewable energy capacity by 2030, market analysts expect a boost for the renewable sector in the Budget. Announcements towards the extension of the PLI scheme for the solar energy value chain, increased allocation towards rooftop solar (PM Suryaghar Yojana), expanding or modernising the transmission grid infrastructure and increase in allocation for smart metering infrastructure will be the key features to watch, they stated.
Besides, announcements towards trade barriers, such as additional basic customs duty (BCD) or anti-dumping duties on solar components, will be keenly eyed. The focus would be on non-trade barriers such as ALMM (Approved List of Models and Manufacturers) and whether to include solar panel supply chain components like Ingots and Wafers in the ALMM scheme.
"A push for renewables – government's PM Surya Ghar Yojana can drive a Rs 1.2 lakh crore rooftop solar ecosystem," said Emkay Global. It believes Premier Energies Ltd and Waaree Energies Ltd to be key beneficiaries of the expected Budget announcements.
Axis Securities said the focus will also be on announcements about energy storage solutions (ESS) like pumped hydro storage projects and battery energy storage systems (BESS). It anticipates likely Budget announcements to be positive for Waaree Energies Ltd, Premier Energies Ltd and Inox Wind Ltd, among other players.
An economic projection of the installed capacity in 2030 shows that the share of renewable energy, especially solar and wind, in the installed capacity may increase substantially.