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.
Foreign Institutional Investors (FIIs) are those who actively participate in the financial markets of countries other than their own.FIIs aggregate money from various investors and other entities and then invest it in different financial assets.
Whenever foreign investors like Goldman Sachs, Morgan Stanley, HSBC, and others buy or sell the shares of Indian companies, their stock price makes a significant move.
Listed below are the stocks that fall under the renewable energy sector in which FIIs have increased their stakes during Q3FY24:
Inox Wind Ltd
With a market capitalization of Rs. 14,598 crores, the shares of Inox Wind Ltd started Friday’s trading session on a higher note at Rs. 449. The shares hit a high of Rs. 458, gaining around 2 percent and closed its day at Rs. 450 apiece.
Foreign Institutional Investors have increased their stake by 6.01 percent from 3.48 percent during the September quarter to 9.49 percent in the December quarter.
According to the latest shareholding pattern, Promoters have a 52.87 percent stake in the company, while DIIs hold 9.88 percent of the company’s shares during the same period.
Looking at the company’s financial statement, the revenue increased by 18 percent from Rs. 625 crores during FY21-22 to Rs. 737 crores in FY22-23. On a contrasting note, the net losses of the company broadened from Rs. 483 crores to Rs. 671 crores during the same timeframe.
Sterling & Wilson Renewable Energy Ltd
With a market capitalization of Rs. 11,189 crores, the shares of Sterling & Wilson Renewable Energy Ltd started Friday’s trading session on a higher note at Rs. 472.
Within a few minutes of the opening bell, the shares clocked 5 percent upper circuit at Rs. 480.15 apiece. The company is backed by the strong parentage of Reliance Industries
Foreign Institutional Investors have increased their stake by 8.08 percent from 3.37 percent during the September quarter to 11.45 percent in the December quarter. According to the latest shareholding pattern, Promoters have a 54.80 percent stake in the company, while DIIs hold 9.76 percent of the company’s shares during the same period.
Looking at the company’s financial statement, the revenue decreased by 61 percent from Rs. 5,199 crores during FY21-22 to Rs. 2,015 crores in FY22-23. On the other hand, the net losses of the company broadened from Rs. 916 crores to Rs. 1,175 crores during the same timeframe.
JSW Energy Ltd
With a market capitalization of Rs. 82,410 crores, the shares of JSW Energy Ltd started Friday’s trading session on a higher note at Rs. 483.
The shares hit a high of Rs. 510, gaining around 6 percent, which is also recorded as the company’s fresh 52-week high and closed its day at Rs. 501 apiece.
Foreign Institutional Investors have increased their stake marginally by 0.12 percent from 8.38 percent during the September quarter to 8.50 percent in the December quarter. According to the latest shareholding pattern, Promoters have a 73.39 percent stake in the company, while DIIs hold 9.36 percent of the company’s shares during the same period.
Looking at the company’s financial statement, the revenue increased by 27 percent from Rs. 8,167 crores during FY21-22 to Rs. 10,332 crores in FY22-23. On a contrasting note, the net profits of the company decreased by 15 percent from Rs. 1,743 crores to Rs. 1,480 crores during the same timeframe.
Written By Vaibhav Patil
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