Post the G20 summit that took place a few days back, most of the stocks in the ‘Renewable Energy’ sector are in the green on Monday.
Reportedly, India’s National Investment and Infrastructure Fund and the U.S. Development Finance Corporation have given a letter of intent (LoI) for a “Renewable Infrastructure Investment Fund” with a contribution of $500 million each towards the same.
The Fund mentioned above will be used to undertake greenfield renewable energy, battery storage, and emerging green technology projects in India. Moreover, all the nations will try to encourage efforts to triple renewable energy capacity globally through existing targets and policies in line with national circumstances by 2030.
Listed below are four Renewable Energy stocks that moved the most in Monday’s trading session:
Inox Wind Limited
With a market capitalization of Rs 6,703.13 crores, the stocks of Inox Wind Limited, manufacturing Wind Turbine Generators (WTGs) and its components, opened their trading hour on Monday at Rs 200.65 and currently trade at Rs 205.65, gaining around 2.50 percent as compared to the previous closing levels of Rs 200.70 apiece.
During Q1FY23-24, the company’s total order book was reported at around 1,327 Megawatt (MW).
Sterling and Wilson Renewable Energy Limited
With a market capitalization of Rs 7,369.59 crores, the stocks of Sterling and Wilson Renewable Energy Limited, engaged in Turnkey solutions for the development and maintenance of Solar Power projects, opened their trading hour on Monday at Rs 379.75 and currently are locked in the 5 percent upper circuit recorded at a price of Rs 388.50.
As of July 2023, the company’s total order book value (unexecuted) was reported at around Rs 4,900 crores.
Websol Energy System Limited
With a market capitalization of Rs 540.84 crores, the stocks of Websol Energy System Limited, engaged in the manufacturing process of solar cells and modules, opened their trading hour on Monday at Rs 139.40 and, since then, are locked in the 5 percent upper circuit recorded at the same price.
JSW Energy Limited
With a market capitalization of Rs 71,156.89 crores, the stocks of JSW Energy Limited, producing power from hydro, thermal, and solar sources, opened their trading hour on Monday at Rs 397.05 and currently trade at Rs 432.35, gaining around 9.50 percent as compared to the previous closing levels of Rs 394.95 apiece.
During Q1FY23-24, the company’s total power generation was reported at around 6,700 Million units.
Written by Amit Madnani
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