Solar Stocks Surge After Budget Announcement
Feb 01, 2024 13:19
Shares of solar solution providers like KPI Green Energy and Sterling and Wilson rallied after the Finance Minister announced rooftop solarisation plans in the Budget.
New Delhi, Feb 1 (PTI) Shares of solar solution providers -- KPI Green Energy and Sterling and Wilson -- climbed in the afternoon trade on Thursday after Finance Minister Nirmala Sitharaman announced rooftop solarisation to ensure free electricity of up to 300 units per month for one crore households.
KPI Green Energy stock rallied 9.50 per cent to reach its 52-week high of Rs 1,997.15 on the BSE.
Shares of Websol Energy System climbed 4.99 per cent to hit its one-year peak of Rs 388.15, Sterling and Wilson Renewable Energy jumped 4.16 per cent and Adani Green Energy advanced 2.14 per cent.
In her Budget speech, she mentioned about rooftop solarisation to ensure free electricity of up to 300 units per month to one crore households, leading to household savings of Rs 15,000-18,000 annually.
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