Renewable Energy Stocks Retreat Following Thursday's Surge Amid Broader Market Decline

Renewable Energy Shares Trade Mixed to Lower on March 13

The Indian renewable energy sector experienced a mixed trading session on March 13, following a sharp rally in the sector the previous day. The broader market weakness and profit booking weighed on several solar and wind stocks.

Market Performance

At 11:45 am, the Sensex was down 670 points or 0.9% at 75,365, while the Nifty declined 234 points to 23,405. Market breadth remained weak, with 2,734 shares declining against 932 advancing.

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Renewable Energy Stocks

Several renewable energy stocks slipped after Thursday's surge. Solex Energy fell 5.4% to Rs 930.9, while Borosil Renewables declined 3.7% to Rs 406.5 and Sterling and Wilson Renewable Energy dropped 3.7% to Rs 172.74. Inox Wind fell 3.3% to Rs 80.9, Servotech Renewable Power slipped 2.9% to Rs 69.12, and Suzlon Energy declined 2% to Rs 41.56.

Outperformers

However, some renewable energy counters remained in positive territory despite the broader market weakness. ACME Solar Holdings rose 6.5% to Rs 255.71, while NTPC Green Energy gained 3.6% to Rs 101.21. KPI Green Energy advanced 1.7% and Premier Energies edged up 1.4%. Waaree Energies traded modestly higher, rising 1.2% to Rs 2,771.00, despite Waaree Renewable Technologies declining 1.5%.

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Sectoral Performance

The Nifty Energy index was down 0.5% during late morning trade on Friday, broadly in line with weakness across most market segments. Broader market indices were also under pressure, with the Nifty Midcap 100 falling 1.6% and the Nifty Smallcap 100 declining nearly 2%.