India’s battery energy storage system (BESS) market is set to grow from less than 0.2 GW to 66 GW by 2032, reflecting a sevenfold increase in capacity. The sector presents a Rs. 5 lakh crore investment opportunity, with planned additions of 44+ GW by 2030. The Key growth drivers include renewable energy integration, electric vehicle infrastructure, and government policies like customs duty waivers and production-linked incentives (PLI) as per Avener Capital report.
Several states have announced ambitious plans and Rajasthan leads with a 23 GW target, followed by Andhra Pradesh at 14 GW, Karnataka at 3 GW, and Telangana at 2 GW. Investment incentives and policy support such as viability gap funding (VGF) and state-level support mechanisms are crucial for meeting the 4 percent energy storage obligation by 2030 from the current 1 percent to create further BESS demand.
Listed below are some of the Stocks that might Benefit from India’s Battery Storage Capacity increase by 2032.
Himadri Specialty Chemicals Limited
The company is one of the leading manufacturers of carbon materials and chemicals, focusing on coal tar derivatives and lithium-ion battery components for diverse industries globally.
With a market capitalization of Rs. 22,563.70 Crores, the shares of Himadri Specialty Chemicals Limited closed at Rs. 457.05 per equity share, up 1.89 percent from its previous day’s close price.
Neogen Chemicals Limited
Neogen Chemicals specializes in bromine and lithium-based specialty chemicals while producing a diverse range of organic and inorganic compounds for pharmaceuticals, agrochemicals, and engineering industries.
With a market capitalization of Rs. 4,521.82 Crores, the shares of Neogen Chemicals Limited closed at Rs. 1,714.00 per equity share, down 0.34 percent from its previous day’s close price.
Amara Raja Energy & Mobility Limited
This Amara Raja Group company is a leading Indian manufacturer of lead-acid batteries for automotive and industrial applications, and it supplies to major OEMs and various sectors.
With a market capitalization of Rs. 18,583.48 Crores, the shares of Amara Raja Energy & Mobility Limited closed at Rs. 1,015.35 per equity share, down 2.80 percent from its previous day’s close price.
Ola Electric Mobility Limited
They are one of the Indian electric vehicle manufacturers that produces scooters and components like battery packs and motors. The company aims to lead the EV revolution globally.
With a market capitalization of Rs. 26,844.31 Crores, the shares of Ola Electric Mobility Limited closed at Rs. 60.86 per equity share, down 1.41 percent from its previous day’s close price.
Gensol Engineering Limited
The company specializes in solar energy solutions while offering engineering, procurement, and construction (EPC) services globally, and they are expanding into electric mobility and green hydrogen technologies.
With a market capitalization of Rs. 2,222.76 Crores, the shares of Gensol Engineering Limited closed at Rs. 584.90 per equity share, up 3.31 percent from its previous day’s close price.
Advait Energy Transitions Limited
This Ashish Kacholia stock provides solutions for power transmission, substations, and telecommunication infrastructure. The company also manufactures and supplies power transmission products and is diversifying into renewable energy.
With a market capitalization of Rs. 1,458.13 Crores, the shares of Advaith Energy Solutions Limited closed at Rs. 1,350.05 per equity share, up 0.09 percent from its previous day’s close price.
Written by Santhosh S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
