Renewable energy stocks jump up to 500% in 1 year; what's fuelling this rise? What should you buy from the sector?

Nishant Kumar | Source: Mint | Posted 04/27/2024

Renewable energy stocks have surged significantly in the last year, with some witnessing a 450-500 per cent increase. Government support, strong tailwinds, and ambitious goals for clean energy in India are key factors driving this growth.

AI generated summary

Renewable energy stocks have experienced a remarkable surge in the past year, with some, like Inox Wind Energy and KPI Green Energy, witnessing a 450-500 percent increase, while others such as SRM Energy, SJVN, JP Power Ventures, and Adani Power have seen jumps of 200-350 percent. These increases are attributed to factors like government support and India's ambitious clean energy goals.

India is pushing towards having 50 percent of its electricity generation from non-fossil fuels by 2030 and aims to achieve 'net zero' emissions by 2070, leading to significant growth in the renewable energy sector. The proactive measures taken by the government, such as capital subsidies and creation of nodal agencies, have further fueled investor interest. Experts believe that the renewable energy sector presents a promising long-term investment opportunity given the strong government initiatives and increasing environmental awareness.

Link to Original Article

Please find the link to the full article below. (Please note that content provider might require a paid subscription)

Source Link: https://www.livemint.com/market/stock-market-news/renewable-energy-stocks-jump-up-to-500-in-1-year-whats-fuelling-this-rise-what-should-you-buy-from-the-sector-11713874717556.html

Create a free trial account: Sign Up

Grid monitor is free to try. No credit card required

Renewable energy stocks jump up to 500% in 1 year; what's fuelling this rise? What should you buy from the sector?

AI generated summary

Link to Original Article

Create a free trial account: Sign Up

Already have an account? Login