Green Stocks Jan 31: Will The Budget Light Up Green Stocks?

The answer to our headline seems to be a yes, going by the performance of our green energy pack today. While Waaree Energies stood out after delivering a stellar set of results that are much closer to the firm's potential for the next year as well, it is the firm's commentary that should interest analysts. With an order book of 26.5 GW in hand, Waaree Energies made it clear that demand was more than enough, which should augur very well for the broader renewable sector as well. Peer firm Premier Energies also benefited from the optimism post Waaree results, shooting up 8% as well.

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Talk is already rising about possible additions of over 35 GW in 2025, a real possibility considering the rush we expect to see before the June 2025 deadline for 100% exemption from ISTS charges. The high rate of energy storage tenders also create their own momentum for more solar especially.

While almost all stocks moved higher today, it is instructive to note that the one stock that struggled, the erstwhile high flier Shakti Pumps, struggled after an honest admission from its Chairman about the limits placed on growth by a shortage of DCR modules in the Indian market. That is an issue that will be troubling a lot many developers and operators, and one hopes for a quick fix to the issue soon, before it leads to significant missed opportunities in the short and medium term.