Best Solar Stocks in India, 2024

The solar energy sector in India is booming and is full of high return investment opportunities. The big bulls and new stock buyers are investing their money in the solar stocks and are anticipating high returns as the Indian government and other international MNCs are also investing in the solar sector in India.

Best Solar Stocks in India

With the union budget of 2022-2023 the Indian government (GOI) has sanctioned $2.57 billion (8.31 lakh crore rupees) to the solar sector as a part of PLI scheme. The budget will help to increase the growth of solar sector and the solar companies to manufacture the solar panels and its essential market as well as to boost the solar infrastructure and the solar market in India. With the esteemed budget, the solar companies are growing rapidly and are entering the Indian Stock Market with the best opportunities for the first-time stock buyer and the prolonged buyers. Let’s take a look on the top solar companies which can provide high ROIs and stagnant stock growth.

Top Solar Stocks in India

1. Waaree Renewables - Waaree Renewables is a leading solar company in India, specializing in manufacturing solar modules and providing solar solutions. Known for quality and innovation, it contributes significantly to the country's renewable energy landscape. Share Price – Rs. 3,008.80

2. Urja Global - Urja Global is a leading solar energy company in India, specializing in solar power generation, EPC services, and renewable energy solutions. Share Price – Rs. 18.20

3. Adani Green – Adani Green is a fresh solar company that has emerged as one of the top solar companies in India. The company functions under Adani group and is said to be the one of the top performing solar companies in India. Share Price – Rs. 1,739.00

4. REC – formerly known as Rural Electrification Corporation Limited, REC Limited is a government owned company (PSU) works by providing finances and promotions to the power projects across the country and it functions under the Ministry of Power GOI. Share Price – Rs. 435.50

5. SJVN – Formerly known as Satluj Jal Vidyut Nigam, is another PSU, a joint venture between the Government of India and the Government of Himachal Pradesh. This PSU majorly handles hydro power projects across the country. Share Price – Rs. 103.90

6. Borosil Renewables – With the most trusted name Borosil, Boorosil Renewables has has emerged as one of the most profit providing solar company in India by majorly focusing on the manufacturing of the solar modules and its essential components. Share Price – Rs. 566.55

7. Suzlon Energy – Suzlon Energy is a wind power focused brand which only works in the field wind energy. It has been operational 1997 and has wind power of over 20,290 MW of installed capacity worldwide. Share Price – 41.15

 

 

*(All the listed share price may vary from the date of publishing this article. Kindly check the recent share price of the solar companies.)

Conclusion

With the top growing solar companies you can take a pick and can easily get high and trusted ROIs. Solar sector is surely a trusted sector as it is being boosted by GOI with multiple schemes and investments. For a new investor like you, these solar companies are offering new avenues.