Green energy stocks are investments in companies that generate power from renewable energy sources, such as solar, wind, hydropower, biomass, bioenergy, geothermal, and ocean energy. Increasing environmental concerns, government support, and massive investments in the renewable energy sector in India are making it an attractive avenue for investors.
Top conglomerates in the space are running at it in full swing, expanding assets and capacities to help achieve India’s 2030 target of reaching 500 GW installed capacity.
Listed below are such green energy stocks that are trading at a discount of up to 31 per cent from their 52-week high:
Inox Wind Ltd
With a market capitalisation of Rs. 16,004 crores, the shares of Inox Wind Ltd started Monday’s trading session on a higher note at Rs. 531 compared to its previous close of Rs. 512.20. During the shares hit a low of Rs. 485.55, making a loss of around 5 percent and closed the day at Rs. 491 apiece.
The company hit its 52-week or all-time high in February 2024 at Rs. 579 and, comparing the same with the current stock price prevailing in the market, there is a discount of approximately 14 percent.
Coming onto the company’s financial statements, the revenue increased by 35 percent from Rs. 370.64 crores during the September quarter to Rs. 503.45 crores in the December quarter. In addition, the net profit showcased a transition from a net loss of Rs. 26.84 crores to a net profit of Rs. 1.81 crores during the same timeframe.
Borosil Renewables Ltd
With a market capitalisation of Rs. 6,408 crores, the shares of Borosil Renewables Ltd started Monday’s trading session on a higher note at Rs. 543 compared to its previous close of Rs. 540. During the shares hit a low of Rs. 486, making a loss of around 10 percent and closed the day at Rs. 490 apiece.
The company hit its 52-week or all-time high in February 2024 at Rs. 667.40 and, comparing the same with the current stock price prevailing in the market, there is a discount of approximately 26 percent.
Coming onto the company’s financial statements, the revenue decreased by 18 percent from Rs. 402 crores during the September quarter to Rs. 330 crores in the December quarter. On a contrasting note, the net showcased a transition from a net profit of Rs. 30 crores to a net loss of Rs. 16 crores during the same timeframe.
NHPC Ltd
With a market capitalisation of Rs. 81,817 crores, the shares of NHPC Ltd started Monday’s trading session on a lower note at Rs. 95.50 compared to its previous close of Rs. 96.25. During the shares hit a low of Rs. 77.65, making a loss of around 16 percent and closed the day at Rs. 81 apiece.
The company hit its 52-week or all-time high in February 2024 at Rs. 115.84 and, comparing the same with the current stock price prevailing in the market, there is a discount of approximately 31 percent.
Coming onto the company’s financial statements, the revenue decreased by 30 percent from Rs. 2,931.26 crores during the September quarter to Rs. 2,055 crores in the December quarter. On the other hand, the net profits declined by 63 percent from Rs. 1,693.26 crores to Rs. 628.44 crores during the same period.
Written By Vaibhav Patil
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