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The renewable energy sector in India has been witnessing a surge in demand and investment in recent years, as the country aims to achieve its ambitious targets of 175 GW of renewable energy capacity by 2022 and 450 GW by 2030.
The government has also announced various incentives and policies to support the growth of green energy, such as the Production Linked Incentive (PLI) scheme, the National Hydrogen Energy Mission, and the Green Energy Corridor project.
The performance of the renewable energy stocks on the Indian share market reflects this positive trend, as many of them have delivered impressive returns to their investors in the past year.
According to the data from Moneycontrol, the top 19 renewable energy stocks listed on the BSE and NSE have gained an average of 130.6% in the last year, as of 22 February 2024. The table below shows the BSE and NSE prices of these stocks as of 22 February 2024, along with their percentage change from the previous day.
Renewable Energy Companies share market
| SCRIP | BSE PRICE (Rs) | NSE PRICE (Rs) |
|---|---|---|
| ADANI GREEN ENERGY | 1,916.00 0.61% | 1,911.75 0.36% |
| BOROSIL RENEWABLES | 555.10 -1.00% | 555.95 -0.75% |
| GAIL | 182.25 1.05% | 182.00 0.94% |
| INDIAN ENERGY EXCHANGE | 144.50 0.21% | 144.55 0.17% |
| INOX GREEN ENERGY | 125.00 -3.74% | 124.90 -3.59% |
| INOX WIND | 592.50 -1.16% | 592.55 -0.90% |
| INSOLATION ENERGY | 1,181.00 1.08% | Not Listed |
| IOC | 179.80 -1.29% | 179.70 -1.43% |
| JSW ENERGY | 489.40 0.90% | 488.00 0.69% |
| L&T | 3,351.10 1.66% | 3,358.75 1.89% |
| NIFTY 50 | Not Listed | 22,180.00 0.57% |
| NTPC | 338.40 0.68% | 338.55 0.73% |
| OLECTRA GREENTECH | 2,105.30 2.07% | 2,102.85 1.95% |
| RELIANCE IND. | 2,960.05 0.74% | 2,966.80 1.07% |
| S&P BSE SENSEX | 72,965.11 0.47% | Not Listed |
| STERLING AND WILSON SOLAR | 591.05 3.34% | 590.00 3.21% |
| TATA POWER | 376.00 0.16% | 376.00 0.15% |
| WAAREE RENEWABLE TECH | 5,126.75 5.00% | Not Listed |
| WEBSOL ENERGY | 417.10 -1.55% | 419.90 -0.67% |
Among these stocks, the top performers in terms of one-year returns are Adani Green Energy (up 332.9%), Waaree Renewable Tech (up 320.8%), and Borosil Renewables (up 252.7%). These companies have been expanding their renewable energy capacities and projects across India and abroad, and have also benefited from favourable market conditions and policy support.
Green energy stocks rise fast
Many green investments aim to invest in a group of renewable energy companies in India that are committed to promoting sustainable development in the renewable energy sector in India, such as the top solar energy stocks in India.
In small case, we offer green portfolios that consist of renewable energy companies in India that mainly focus on renewable energy sources in India. Therefore, investors can evaluate the adoption of renewable energy, clean technology, and green practices. Then, an investor can assess their environmental, social, and governance (ESG) performance to make a wise investment decision.
Some of the other notable renewable energy stocks that have delivered strong returns in the last one year are Inox Wind (up 187.4%), JSW Energy (up 139.8%), and Tata Power (up 107.3%). These companies have also diversified their portfolio of renewable energy sources, such as wind, solar, hydro, and biomass, and have invested in new technologies and innovations to improve their efficiency and profitability.
The renewable energy sector in India is expected to grow further in the coming years, as the demand for clean and green energy increases, and the costs of renewable energy generation and storage decline. Renewable energy stocks are likely to benefit from this trend and offer attractive opportunities for long-term investors who are looking for sustainable and profitable investments.
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