The solar cable industry in India is experiencing rapid growth, driven by the country’s ambitious renewable energy targets, aiming for 500 GW of renewable capacity by 2030. This surge in demand is fueled by increased solar project installations and government incentives. The global solar cable market, valued at $1.12 billion in 2024, is projected to grow at a CAGR of 11.4% from 2025 to 2030, according to Grand View Research.
Solar cables are essential for transmitting power from solar panels to inverters and grids efficiently. They are durable, weather-resistant, and ensure safe, reliable energy flow in solar power systems. There are some Indian stocks which can benefit from the renewable energy push.
Listed below are some of the Solar Cable Stocks which can benefit from 500 GW renewable energy goals & are expected to grow by ~12% by 2030
Polycab India
Polycab India is India’s largest manufacturer of wires and cables, with a strong presence in the FMEG sector. It operates 23 manufacturing facilities and aims to achieve a revenue of Rs. 20,000 crore by FY26, driven by robust growth and expansion plans.
With a market capitalization of Rs. 75,267.86 Crores, the shares of Polycab India Limited closed at Rs. 5,003.70 per equity share, down 0.14 percent from its previous day’s close price of Rs. 5,010.60.
KEI Industries is a leading Indian manufacturer of cables and wires, offering a wide product range including EHV, HT, LT cables, and more. It operates eight manufacturing plants and provides EPC services, with a strong global presence and diversified customer base.
With a market capitalization of Rs. 29,071.88 Crores, the shares of KEI Industries closed at Rs. 3,042.50 per equity share, down 0.63 percent from its previous day’s close price of Rs. 3,061.80.
Apar Industries
Apar Industries, founded in 1958, is a leading global manufacturer of aluminum conductors, transformer oils, and cables. It offers a wide range of power and telecom cables. Apar has strategic partnerships and exports to over 140 countries.
With a market capitalization of Rs. 21,979.70 Crores, the shares of Apar Industries Limited closed at Rs. 5,471.90 per equity share, down 0.67 percent from its previous day’s close price of Rs. 5,509.
Vindhya Telelinks
Vindhya Telelinks Limited is a leading manufacturer of telecommunication cables, including jelly-filled and optical fiber cables. It also offers solar PV cables, supporting growth in the power and telecommunication sectors with innovative products and solutions.
With a market capitalization of Rs. 1,565.80 Crores, the shares of Vindhya Telecom Limited closed at Rs. 1,321.25 per equity share, up 3.21 percent from its previous day’s close price of Rs. 1,280.20.
Written by Santhosh S
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