Suzlon, Waaree, Premier Energies, Vikram Solar: Renewable stocks rally up 13%; what's next

Shares of solar energy-related counters including Waaree Energies, Premier Energies, Vikram Solar and others rallied up to 13 pe cent during the trading session on Thursday. The ripple effect was also seen in other renewable energy players, like wind energy, counter like Suzlon Energy and Inox Wind, which rebounded nearly 3 per cent.

Leading the pack, Waaree Energies Ltd jumped more than 13.45 per cent to Rs 2,740.75 on Thursday, commanding a total market capitalization of close to Rs 78,000 crore, following a stock set of numbers in the December 2025 quarter. The stock had settled at Rs 2415.80 on Wednesday.

Waaree Energies reported 115.6 per cent YoY jump in the net profit to Rs 1,062.50 crore, while revenue spiked 118.8 per cent YoY to Rs 7,565 crore in the December 2025 quarter. The solar PV modules manufacturer's ebitda for the quarter rose to Rs 1,928 crore, while margins improved to 25.5 per cent for the quarter.

Waaree recorded an exceptional expense of INR2.9b pertaining to a provision made in respect of liabilities towards the ongoing investigation by the US CBP, said Motilal Oswal Financial Services. "Installed module/cell capacity stands at 23.8/5.4GW as of 3QFY26 end," it added. Motilal currently has a 'buy' rating on the stock, while it will host a concall on Thursday from 3.30 pm.

Premier Energies Ltd, which is set to announce its results for the Q3FY26 later today, also rebounded 6.8 per cent to Rs 758.55 against its previous close at Rs 710.35 on Wednesday. The stock hit its 52-week of 708.15 in the previous trading session. The company commanded a market capitalization of 33.500 crore. Ambit has suggested to 'sell' premier.

Kotak Institutional Equities expects revenue to grow by 35 per cent YoY and 26 per cent QoQ, primarily due to the stabilization of 1.4 GW module facility commissioned in 1QFY26, production scale-up of recently inaugurated 1.2 GW cell facility, partly impacted by a weakening realization of module and cells in the domestic market.

Vikram Solar Ltd also jumped more than 6 per cent to Rs 208.70 on Thursday, while it has rebounded more than 9.26 per cent from its 52-week low at Rs 191, hit in the previous session. It reported a more than five-fold jump in the net profit at Rs 98.1 crore, while revenue rose 7.8 per cent YoY to Rs 1,105.9 crore for the given quarter.

Saatvik Green Energy Ltd and Emmvee Photovoltaic Power Ltd also jumped nearly 5 per cent each on Thursday. Both the recently listed counters saw fresh interest from Ambit, which initiated coverage on both the counters with a 'buy' call. It has picked Emmvee over Saatvik but has given target price of Rs 310 and Rs 550, respectively.

Kranthi Bathini, Director of Equity Strategy at Wealthmills Securities said that solar theme and related stocks were in the momentum during the euphoria around them, but saw a sharp correction of nearly 50 per cent in the recent market correction.

"This sector is highly suitable for high-risk appetite investors only as the valuations are still high and investors should keenly track the changing global world order around the renewable energy theme. To make any serious and long-term investment, one needs to track the results for the next few quarters," he added.

On the other hand, shares of Suzlon Energy Ltd and Inox Wind Ltd jumped nearly 3 per cent each to Rs 46.69 and Rs 107.85, respectively on Thursday. Both the stocks tested their 52-week lows during Wednesday's trading session.

Suzlon Energy’s key concerns are related to the cannibalization of wind’s share in tenders from the solar + BESS segment, a slow pace of wind installation, and rising competitive intensity in wind, said Motilal Oswal. "However, at the current price, we think the risk-reward is favorable for Suzlon," it added with a target price of Rs 74, suggesting a 63 per cent upside from its last close.