Shares of Suzlon Energy Ltd, Inox Wind Ltd, Orient Green Energy and KPI Green Energy Ltd, among others, rallied up to 5 per cent in Saturday's trade as the Finance Minister Nirmala Sitharaman, in a significant push towards self-reliance in renewable energy, launched a new manufacturing mission under the ambitious 'Make in India initiative'. The strategic move aims to establish a robust ecosystem for the production of solar photovoltaic (PV) cells, electrolysers, and grid-scale batteries—key components in advancing India's clean energy transition.
Suzlon Energy shares climbed 4.66 per cent to Rs 60.86. Inox Wind advanced 4.48 per cent to Rs 175.90. KPI Green Energy Ltd hit its 5 per cent upper circuit limit at Rs 385.75. Premier Energies Ltd shares added 2.27 per cent to Rs 1,054.85. Adani Enterprises Ltd edged 0.55 per cent up at Rs 1,054.85.
The FM in her Budget speech said the government would support Clean Tech manufacturing to improve domestic value , jobs and build our ecosystem for solar PV cells, EV batteries, motors and controllers, electrolyzers, wind turbines, very high voltage transmission equipment and grid scale batteries.
Divyam Mour, Research Analyst at SAMCO Securities said the initiative is expected to be a game-changer for leading solar PV manufacturers such as Premier Energies, Waaree Energies, and Adani Enterprises, boosting domestic production capabilities and reducing import dependencies. Additionally, battery manufacturing giants like Amara Raja Batteries, HBL Power Systems, and Exide Industries stand to gain from the mission’s focus on strengthening the country’s energy storage infrastructure. Amara Raja and Exide shares rose up to 2 per cent.
"Beyond solar and energy storage, the initiative will provide a strong impetus to companies engaged in wind turbine manufacturing and other renewable energy solutions. Industry players like Inox Wind, Orient Green Energy, Suzlon Energy, and KPI Green Energy are expected to witness significant growth opportunities as India reinforces its commitment to clean energy and sustainable industrial expansion," Mour said.
Heena Khushalani, Partner at EY India, said the clear focus to support cleantech manufacturing including support to lithium-ion batteries is a welcome move to reduce our dependency on exports.
The Union Budget’s announcement of a Rs 20,000 crore allocation for a dedicated Nuclear Energy Mission in 2025-26, alongside the development of Bharat Small Reactors (BSRs) in 2024-25, meanwhile, is seen beneficial for stocks such as Larsen & Toubro Ltd (L&T) and Bharat Heavy Electricals Ltd (BHEL).