Green Energy stocks under ₹ 100 with high dividend yield of up to 3.8% to add to your watchlist

The Indian renewable energy sector is expected to grow at a CAGR of 10 percent between 2023 and 2028. In the long run, the sector is likely to be pushed by factors such as supportive government regulations, increased environmental consciousness, subsidies, and tax benefits for installing solar panels. 

The Ministry of New and Renewable Energy has set a target of 500 GW of installed renewable energy capacity by 2030, which will most likely give opportunity for future industry development. As a result, greater expenditures in the green energy industry are expected to drive future market growth. 

Here are two Green Energy stocks with High Dividend Yields under Rs 100 

NHPC Ltd 

NHPC Ltd is a Large-cap stock with a market capitalization of Rs 55,749 crores. The company’s shares were trading at Rs 55.80 per share, down 0.81 percent on Friday from the previous close price.

The company’s dividend yield is around 3.87 percent. In the recent financial year, the company’s board of directors recommended a final dividend of Rs 0.45 per equity share i.e., a 4.5 percent payout on the face value of Rs 10. 

Revenue for the NHPC fell year on year, from Rs 2,785 crore in Q1FY23 to Rs 2,757 crore in Q1FY24. During the same time period, net profit grew marginally from Rs 1,052 crore to Rs 1,095 crore. 

NHPC Shares have increased 26 percent in the previous six months and 37 percent in the last year. 

The National Hydroelectric Power Corporation (NHPC), a Mini Ratna category I public sector utility, is the Government of India’s main hydroelectric generation enterprise. The primary business of the company is the generation and sale of bulk power to various power utilities. 

SJVN Ltd 

SJVN Ltd is a Mid-cap stock with a market capitalization of Rs 29,827 crores. The company’s shares were trading at Rs 75.80 per share, down 1.87 percent on Friday from the previous close price.

The company’s dividend yield is around 2.30 percent. In the latest financial year, the company’s board of directors recommended a final dividend of Rs 0.62 per equity share i.e., a 6.2 percent payout on the face value of Rs 10. 

The company’s revenue has declined by 33 percent year on year, from Rs 1,004 crore in Q1FY23 to Rs 674 crore in Q1FY24. During the same period, net profit declined by 56 percent from Rs 608 crore to Rs 270 crore. 

SJVN Shares have delivered a multibagger return of 124 percent in the previous six months and 121 percent in the last year. 

SJVN is in the electricity-producing business. In addition, the organization provides consulting services for hydropower projects. 

Written By Omkar Chitnis

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