Renewable energy potential for multi-baggers: Investment opportunities in renewable energy

Sustainable investing and multi-bagger potential

"With the government's push for clean and alternative energy sources, such as biofuels and renewables, there is undoubtedly a path for India to reduce its dependence on carbon-based energy," says Arun Chulani, co-founder of First Water Capital.

Chulani stated in an interview with ETMarkets, "There is a possibility of discovering multi-baggers in this (renewables) sector; however, good companies do not always reflect good valuations; therefore, adequate research would be necessary to determine which ones."

Emerging trends in renewable energy stocks:

Prominent conglomerates in the industry are actively engaged in the endeavour, augmenting their resources and capabilities to aid in the realization of India's 2030 objective of installing 500 GW of capacity. The allocation for the Ministry of New and Renewable Energy in the Union Budget 2023-2024 has been raised by approximately 48%, amounting to Rs. 10,222 cr, in contrast to the revised budget estimate of Rs. 7,033 cr from the previous year. Consequently, interest in capitalizing on the momentum and securing enticing returns provided by the leading renewable energy stocks in India is understandable.

The escalating cost of producing energy from fossil fuels, environmental concerns, and the depletion of these resources are collectively driving the demand for "green energy." Future society will therefore be preoccupied with renewable energy.

Renewable energy stocks with high returns:

Utilise Stock Pages to conduct individual evaluations of the clean energy stocks in India. In addition to analyzing their holding patterns and finances, compare them to their peers. This will assist you in determining whether to invest in the stock by providing you with a comprehensive understanding of its past performance and future prospects.

You can be one amongst the next multi-baggers in the renewable sector!