KPI Green Energy Ltd., Inox Wind Energy Ltd., Tata Power Co. and other renewable energy companies' shares advanced on Saturday, as the Union Budget 2025–26 penned 11.8% increase in capital expenditure for Ministry of Renewable Energy. The increase in capex is expected to benefit businesses in the space indirectly.
Capex is estimated to be at Rs 35,460 crore versus revised 2024-25 estimate of Rs 31,701.46 crore, Finance Minister Nirmala Sitharaman said.
Following the announcement, the market-cap of the renewable energy producing companies increased by Rs 16,070 crore to Rs 5 lakh crore as of 1:37 p.m.
KPI Green Energy's share price led gains among peers, rising 5%. Inox Wind Energy and Tata Power followed suit, with 3.39% and 1.8% gains, respectively.
Meanwhile, Gensol Engineering Ltd. emerged as the worst performing stock with the most losses.
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