Shares of wind energy generation companies declined up to 5 per cent on the BSE on Monday amid reports that the government may bring back reverse auctions for the sector.
Inox Wind and KP Energy shares ended 5 per cent lower, while those of Suzlon fell 3 per cent. It, too, slipped 5 per cent intraday.
Shares of Orient Green Power lost 3.4 per cent after falling over 4 per cent intraday.
By comparison, the BSE Sensex went up 66 points (0.09 per cent) to end at 73,872 points.
According to reports, the Ministry of New and Renewable Energy (MNRE) is weighing reinstating the 'reverse auctions' and wants to limit the size for plain vanilla wind tenders to 600 Mw. It may mandate issuing bids on a pan-Indian basis rather than eing state-specific for auctioning of wind power capacity by renewable energy implementing agencies (REIA) including SECI, NTPC, NHPC, and SJVN to developers and state agencies.
While the move is likely to have insignificant impact, frequent policy flip-flops may act as overhang on the stocks in the near term, analysts said.
The market size of the sector, they said, is significantly more than the manufacturing and execution capability of the industry.
Diese Geschichte stammt aus der March 05, 2024-Ausgabe von Business Standard.
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Diese Geschichte stammt aus der March 05, 2024-Ausgabe von Business Standard.
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