Budget 2024: India's green energy sector sets high hopes, eyeing major policy support,& others

Green energy stocks with low debt and multibagger returns of up to 365% to keep a watch on

• Small-cap stocks are those with a market capitalization of less than Rs 16800 crores.
• For example, if an investor invested Rs 1 Lakh six months ago the current value would be 3.30 Lakhs.
• The company’s net revenue decreased by 97 percent annually, from Rs 13.55 crore in Q2FY23 to Rs 0.30 crore in Q2FY24.
• Inox Green Energy Services Limited, founded in 2012, is one of India’s major wind power operation and maintenance (“O&M”) service providers.
• The company has a low debt-to-equity ratio of 0.31 compared to its previous years, However, the return on equity, the return on capital employed, and the net profit margin remain negative.
• Investors must therefore exercise due caution while investing or trading in stocks.

Budget 2024: India's green energy sector sets high hopes, eyeing major policy support,

• Industry leaders have put forth a comprehensive wishlist, ranging from enhanced subsidies and research funding to favorable tax regimes and streamlined processes, all aimed at propelling the country toward its ambitious renewable energy goals and solidifying its position in the global clean energy landscape.
• @Ashwani Sehgal , President of the India Solar Manufacturers Association (ISMA) & Managing Director, Alpex Solar Ltd, emphasizes the budget's critical role in reinforcing the government's commitment to sustainable energy and supporting indigenous solar manufacturing. "
• Sehgal also urges the immediate implementation of ALMM and shortening the project implementation time to a maximum of 15 months, measures he deems vital for achieving India's economic objectives.
• Saraswat's wishlist includes "enhanced subsidies for technology, expanded funding for R&D, streamlined land acquisition processes, and favorable tax rebates."
• The budget, thus, is not only awaited for the financial allocations it will make but also for the signal it sends about India's dedication to combating climate change and embracing a sustainable future.

Power Purchase Agreements: Vigilance launches fresh probe, collects record from PSPCL

The Punjab Vigilance Bureau has initiated an inquiry into the ‘Power Purchase Agreements’ of thermal power plants and solar energy.

• He summoned records on December 3, 2021, but the investigation did not progress significantly.
• Former Chief Minister Captain Amarinder Singh justified only 17 of the numerous solar power agreements signed during the coalition government, expressing doubts over the energy agreements.
• The Vigilance is extending its investigation to solar power agreements, including projects involving politicians and top officials, who may face scrutiny.
• In the 2020-21 Congress regime, four power agreements for 767 MW were signed between Rs 2.63 and Rs 4.50 per unit.