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.
The Government of India has been actively promoting green energy stocks and renewable energy projects to reduce its dependence on fossil fuels and contribute to a more sustainable future.
To achieve these goals, the government has initiated various schemes and policies, including the Production-Linked Incentive (PLI) scheme for the renewable energy sector.
Recently, the Government of India launched a new scheme called the “new solar rooftop scheme” referred to as the Pradhan Mantri Suryodaya Yojana. The scheme aims to expand India’s rooftop solar installed capacity in the residential sector by providing rooftop solar power systems to one crore households.
Listed below are 3 Green energy stocks that are held by the Government of India:
REC Ltd
With a market capitalization of Rs. 1,30,792 crores, the shares of the financial company started Friday’s trading session on a higher note at Rs. 500 compared to its previous close of Rs. 494.25.
During the trading session, the shares hit a high of Rs. 513.80, gaining around 2 percent, also recorded as the company’s fresh 52-week high and closed the day at Rs. 496 apiece.
The shares have delivered a multibagger return of 148 percent in six months to its shareholders. For example, if someone had invested Rs. 1 lakh in these shares six months ago, then the worth of those shares would be Rs. 2.48 lakhs now.
According to the latest shareholding pattern, the Government or the Promoters hold 52.63 percent of shares, FIIs have 20.60 percent stakes, DIIs hold 14.16 percent shares and the remaining 12.55 percent stakes are with the Retail Investors.
Looking at the company’s financial statement, the revenue increased marginally by 3 percent from Rs. 11,688 crores during the September quarter to Rs. 12,052 crores in the December quarter. On a contrasting note, the net profits declined by 13 percent from Rs. 3,790 crores to Rs. 3,308 crores during the same timeframe.
Indian Renewable Energy Development Agency Ltd (IREDA)
With a market capitalization of Rs. 46,539 crores, the shares of the financial institution started Tuesday’s trading session on a higher note at Rs. 184.80 compared to its previous close of Rs. 178.25.
During the trading session, the shares hit a high of Rs. 187.15, gaining around 2 percent, also recorded as the company’s fresh 52-week high and closed the day at Rs. 173 apiece.
The shares have delivered a multibagger return of 255 percent in six months to its shareholders. For example, if someone had invested Rs. 1 lakh in these shares six months ago, then the worth of those shares would be Rs. 3.55 lakhs now.
According to the latest shareholding pattern, the Government or the Promoters hold 75 percent of shares, FIIs have 1.88 percent stakes, DIIs hold 4.37 percent shares and the remaining 18.75 percent stakes are with the Retail Investors.
Looking at the company’s financial statement, the revenue decreased by 30 percent from Rs. 1,777 crores during the September quarter to Rs. 1,253 crores in the December quarter. On a contrasting note, the net profits increased by 18 percent from Rs. 285 crores to Rs. 336 crores during the same timeframe.
SJVN Ltd
With a market capitalization of Rs. 50,282 crores, the shares of the electricity generation started Tuesday’s trading session on a higher note at Rs. 133.50 compared to its previous close of Rs. 129.20.
During the trading session, the shares hit a high of Rs. 134.70, gaining around 3 percent, also recorded as the company’s fresh 52-week high and closed the day at Rs. 127 apiece.
The shares have delivered a multibagger return of 150 percent in six months to its shareholders. For example, if someone had invested Rs. 1 lakh in these shares six months ago, then the worth of those shares would be Rs. 2.50 lakhs now.
According to the latest shareholding pattern, the Government or the Promoters hold 81.85 percent of shares, FIIs have 1.68 percent stakes, DIIs hold 5.97 percent of shares and the remaining 10.51 percent stakes are with the Retail Investors.
Looking at the company’s financial statement, the revenue increased by 30 percent from Rs. 675 crores during the September quarter to Rs. 878 crores in the December quarter. In addition, the net profits zoomed by 62 percent from Rs. 272 crores to Rs. 440 crores during the same timeframe.
Written By Vaibhav Patil
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