Rooftop Solar Scheme: Borosil Renewables, Tata Power and Waaree to gain big; check out other beneficiaries
Rooftop Solar Scheme, PM Modi announces Rooftop Solar scheme: Borosil Renewables was up 14 per cent, Tata Power was up 3 per cent, while Sterling and Wilson Renewable Energy, IREDA, and Waaree Renewable were locked in the 5 per cent upper circuit each.
Rooftop Solar Scheme, PM Modi announces Rooftop Solar scheme: Shares of solar panel manufacturers and power companies such as Tata Power, Borosil Renewables, IREDA, Waaree Renewable Technologies, and Sterling and Wilson Renewable Energy buzzed in the trade on Tuesday, January 23, with gains of up to 18.56 per cent. The stocks were in heavy demand after PM Narendra Modi on Monday announced the 'Pradhan Mantri Suryodaya Yojana'.
This scheme not only addresses the immediate needs of millions but is also expected to propel our nation towards energy self-sufficiency. The scheme's impact resonates across the entire solar supply chain, which may lead to the creation of demand right from the level of panel glass to aluminium to solar modules and various components associated with them. This, in turn, will not only aid the industry's growth but also serve as a catalyst for employment generation, said Hitesh Doshi, Chairman, of Waaree Group.
"With India already at a local manufacturing capacity of 62.85 GW for solar PV, complemented by the upcoming 39.6 GW under the PLI scheme, the nation is prepared to meet the demands of this project. The scale of this order is expected to ensure a seamless supply and cost benefits that will be passed on to end consumers," Doshi added.
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