Adani Power, Tata Power, Suzlon and other renewable energy stocks surge as budget on additional PLI funds to manufacture solar equipment
- Finance minister has allocated an additional ₹19,500 crore to manufacture equipment for solar power under the PLI scheme.
- This is in line with the government’s consistent effort to cut India’s total projected carbon emission by 1 billion tonnes by 2030.
- Check quick developments and news related to the budget at Budget Insider.
AdvertisementShares of companies involved in manufacturing of clean energy surged after the Finance Minister Nirmala Sitharaman announced additional funds under the production linked incentive (PLI) scheme.
The budget allocated an additional ₹19,500 crore to manufacture equipment for solar power under the PLI scheme.
The PLI scheme typically provides incentives to companies for enhancing their domestic manufacturing.
Here are shares of renewable energy companies that are gaining:
|Companies into renewable energy||% stock as of 12:20 p.m.|
|Gital Renewable Energy||+4.99%|
|Sterling and Wilson Renewable Energy||+2.5%|
|Websol Energy System||+4.97%|
|Swelect Energy Systems||+1.65%|
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