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 39 per cent from their 52-week high:
KPI Green Energy Ltd
With a market capitalization of Rs. 9,381 crores, the shares power generation company started Tuesday’s trading session on a higher note at Rs. 1,567 compared to its previous close of Rs. 1,525.35. During the trading session, the shares hit a high of Rs. 1,598.40, gaining around 3 percent and are currently trading at Rs. 1,558 apiece.
The company hit its 52-week or all-time high in February 2024 at Rs. 1,895.95 and, comparing the same with the current stock price prevailing in the market, there is a discount of approximately 17 percent.
Coming onto the company’s financial statements, the revenue increased by 53 percent from Rs. 215 crores during the September quarter to Rs. 330 crores in the December quarter. In addition, the net profits increased by 45 percent from Rs. 35 crores to Rs. 51 crores during the same period.
Borosil Renewables Ltd
With a market capitalisation of Rs. 6,526 crores, the shares of the patterned glass manufacturing company started Tuesday’s trading session on a flatter note at Rs. 494 compared to its previous close of Rs. 494.50. During the trading session, the shares hit a high of Rs. 506, gaining around 2 percent and are currently at Rs. 499 apiece.
The company hit its 52-week or all-time high in February 2024 at Rs. 669.35 and, comparing the same with the current stock price prevailing in the market, there is a discount of approximately 25 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.
Inox Wind Ltd
With a market capitalisation of Rs. 15,285 crores, the shares of Wind Turbine Generators manufacturing started Tuesday’s trading session on a lower note at Rs. 461 compared to its previous close of Rs. 466.45. During the trading session, the shares hit a high of Rs. 472, gaining around 1 percent and are currently trading at Rs. 470 apiece.
The company hit its 52-week or all-time high in February 2024 at Rs. 648 and, comparing the same with the current stock price prevailing in the market, there is a discount of approximately 27 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.
Ahasolar Technologies Ltd
With a market capitalization of Rs. 124 crores, the shares of this microcap company started Tuesday’s trading session on a lower note at Rs. 403.40 compared to its previous close of Rs. 424.60. Within a few minutes of the opening bell the shares clocked 5 percent lower circuit at Rs. 403.440 apiece.
The company hit its 52-week or all-time high in March 2024 at Rs. 657.75 and, comparing the same with the current stock price prevailing in the market, there is a discount of approximately 39 percent.
Coming onto the company’s financial statements, the revenue zoomed by 21 percent from Rs. 17.30 crores during FY21-22 to Rs. 20.87 crores in FY22-23. In addition, the net profits magnified by 103 percent from Rs. 79 lakhs to Rs. 1.60 crores during the same timeframe.
Written By Vaibhav Patil
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