Green Energy stocks rally after the Budget day, RIL hit all time high

Energy Stocks

Green energy stocks rallied after the budget day as BSE Sensex jumped more than 800 points and Nifty gained more than 240 points.

Shares of KPI Green, KPEL Energy, Waree Renewables, Orient Green power, Websol Energy Systems  and Gensol Engineering are seen locked in the upper circuit while Suzlon shares are up by more than 3 percent.

IREDA shares gain by more than 2.5 percent while Inox Wind shares are up by 3 percent.

In its effort to push households to adopt the rooftop solar programme the government will be enlisting state-run power sector companies viz., NHPC, SJVN, NTPC and Power Grid. Power Grid shares are seen topping the list of BSE gainers, also trading at fresh life highs.

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The market is expecting a push towards green energy in the full budget.
On budget announcement, Mr. Anshul Arzare, MD & CEO, Yes Securities India Limited comments, "Embracing green energy, offshore wind projects align with the government's net zero pledge by 2070. In essence, Seetharaman's budget stitches a narrative of inclusive growth, fiscal discipline, and innovation, sketching a path towards India's transformative journey."

All sectoral indices are trading in green with the BSE PSU index leading the index gainer list by recording gains of over 1.76 percent. BEML shares are trading above Rs 4,000 for the first time, also trading at fresh life highs after gaining more than 7 percent. Jupiter Wagons from the railways pack is trading with gains of over 3 percent.

NBCC, Hudco and NCL India are top PSU gainers up by more than 16 percent, 9 percent and 5 percent respectively.

Shares of RIL made a fresh all-time high also contributing to more than 25 percent of the BSE Sensex gains. Nifty Oil & Gas index is up by more than 2 percent with Castrol being the top index gainer, up by more than 5 percent. BPCL, HPCL and IOC are seen trading with gains of more than 2 percent each.

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