These green energy stocks surged ahead of the Union Budget 2023!
Green energy stocks were on the rise and should be kept an eye on, as they would directly benefit from increased allocation in the upcoming Union Budget
Ahead of the budget, Sensex gained 528 points to trade at 60,076 while Nifty 50 increased by 144 points to trade at 17,804. Green energy stocks were on the rise and should be kept an eye on, as they would directly benefit from increased allocation in the upcoming Union Budget.
On Tuesday, the day before the budget was announced, all green energy-related stocks including Suzlon Energy, Solex Energy, Borosil Renewable, KPI Green Energy, Orient Green Power, Inox Wind, EKI Energy Services,Kotyark Industries and Insolation Energy experienced a strong uptrend with a surge in volume.
The government has allocated Rs 20,000 crore towards building hydrogen economy in India. It is expected that electrolysers would cost half in 3 years time, as the biggest cost to producing green energy is cost of electricity.
Keep a close eye on green energy stocks ahead of the Union Budget 2023.