The renewable energy and power equipment sectors are witnessing significant momentum as the Indian government intensifies its focus on achieving the ambitious target of 500GW renewable energy capacity by 2030. Leading brokerage JM Financial has provided insights into stock price targets for key players in the sector, including Suzlon Energy, BHEL, Tata Power, NTPC, and Inox Wind.
Key Highlights:
- Suzlon Energy: The brokerage has set a target price of ₹80 for Suzlon Energy, reflecting its strong position in the wind energy market. The company continues to benefit from its robust order book and strategic initiatives in renewable energy.
- BHEL (Bharat Heavy Electricals Limited): With a target price of ₹358, BHEL remains a top pick in the power equipment sector. The company’s diversified portfolio and focus on renewable energy projects position it well for future growth.
- Tata Power: Tata Power’s target price has been pegged at ₹456, driven by its aggressive push into renewable energy and its commitment to sustainability. The company’s expanding solar and wind energy portfolio is a key growth driver.
- NTPC (National Thermal Power Corporation): NTPC has a target price of ₹359, supported by its strategic investments in renewable energy projects and its plans to add significant capacity in the coming years.
- Inox Wind: The brokerage has set a target price of ₹212 for Inox Wind, highlighting its strong order book and leadership in the wind energy solutions market.
Sector Outlook:
The renewable energy sector in India is poised for exponential growth, with policy support and regulatory reforms addressing key challenges such as grid connectivity and land availability. The Central Electricity Regulatory Commission (CERC) has proposed measures to enhance the integration of renewable energy into the grid, which is expected to accelerate capacity addition.
Investors are advised to monitor these stocks closely as the sector continues to evolve, driven by technological advancements and favorable government policies. With the global shift towards sustainability, these companies are well-positioned to capitalize on emerging opportunities in the renewable energy landscape.
