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Suzlon Energy Ltd shares continued their downward move for the fifth straight session in Wednesday’s trade. The stock slumped 9.26 per cent to hit a day low of Rs 53.89. At this price, it has cracked 22.25 per cent in five trading days.

A few analysts largely remained ‘negative’ on the counter. “Suzlon, at current levels, is still trading at a premium valuation. All these renewable energy stocks have taken a beating post the re-election of Donald Trump in the United States. There is a negative sentiment around all these renewable energy companies and stocks, especially solar panel firms. Even though Suzlon is into wind but I think there is some more pain which is left in the stock.

“Don’t be in a hurry to buy or average. May be closer to Rs 50 or let the stock settle down and see an uptick then it will be a good idea to buy again. I’m not looking at a target of Rs 100 in a hurry. I will be looking at targets of Rs 80-85,” Agarwala also said.

For the unversed, Trump has not been a supporter of the renewable energy sector and made claims to halt renewable energy projects on the “first day” of his potential presidency.

Kushal Gandhi, Technical Analyst at StoxBox, suggested avoiding the counter in the near term. “The ongoing corrective phase is marked by erratic movements and relatively high selling volumes, with the price action forming a lower high structure and showing no signs of recovery. We recommend avoiding Suzlon at the current market price as it is at a critical juncture,” Gandhi stated.

Recently, Suzlon’s CEO of New Business Ishwar Chand Mangal resigned after being associated with the company for 28 years. In terms of earnings, the renewable energy solutions provider reported a 95.72 per cent year-on-year (YoY) surge in its second-quarter consolidated net profit for the financial year 2024-25 (Q2 FY25).

During the quarter under review, profit came at Rs 200.20 crore as against Rs 102.29 crore in the year-ago period. Revenue from operations moved up 47.68 per cent to Rs 2,092.99 crore in Q2 FY25 from Rs 1,417.21 crore in the corresponding period last year. Suzlon said it posted consistent YoY growth in EBITDA (earnings before interest, taxes, depreciation, and amortisation) at Rs 294 crore.

As of September 2024, promoters held a 13.25 per cent stake in the company, which is slightly lower from 13.27 per cent in the previous quarter.

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Samvardhana Motherson International (SAMIL) (formerly Motherson Sumi Systems) has announced its financial results for the quarter ended September 2024 (Q2FY25).

The company’s consolidated net profit soared multifold 222.5 percent to ₹948.81 crore in Q2FY25 as against ₹294.15 crore in the same period last year. Meanwhile, sequentially, it declined 13.5 percent from ₹1,097.18 crore in the June quarter.

Its consolidated total revenue from operations also increased over 18 percent to ₹27,811.86 crore in the quarter under review versus ₹23,527.46 crore in year-ago period. Sequentially, it marginally declined, 3.6 percent from ₹28,867.96 crore in the June quarter.

In the first half of financial year 2024-25 (H1FY25), Its net profit also climbed multifold, over 117 percent to ₹2,045.99 crore as compared to ₹942.27 crore in the same period last year. Meanwhile, its total income surged to ₹57,009.9 crore in H1FY25, up 23.6 percent from ₹46,108.95 crore in H1FY24. 

Commenting on the results, Mr. Vivek Chaand Sehgal, Chairman, Motherson said, “These results highlight our strength and adaptability in an uncertain business environment. Our prudent management of the leverage ratio has positioned us well for sustainable growth. This strategic approach ensures that we maintain a healthy balance sheet while continuing to invest in the future. Our automotive booked business is USD 88 billion approx. and has been growing consistently, reflecting the trust our customers have in us. Our non-automotive businesses have been growing consistently, contributing to overall growth with stability and diversification. With the support of our customers and the hard work and dedication of our global teams, we have built a resilient organisation that is ready for continued success.”

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NTPC Green Energy Limited is considering seeking a valuation of nearly $12 billion for its upcoming initial public offerings (IPO), potentially making it one of the biggest IPOs in the renewable energy industry, news agency Bloomberg reported on Tuesday, November 12, citing people aware of the development.

NTPC Green Energy Ltd is a subsidiary of the state-owned NTPC Limited. The clean energy company has held talks with its advisors regarding pricing its IPO at over ₹100 per share, according to the people cited in the report.

The renewable energy company may raise up to ₹100 billion or ₹10,000 crore via the share sale, the company had said earlier.

The books are expected to open on November 18 and close on November 21, said the people cited in the report. Considerations are ongoing and details such as valuation, price range and timing could still change, the report added. 

NTPC Green Energy IPO comes after the listing of Waaree Energies IPO in the renewable energy sector. Waaree Energies raised $514 million from the public markets last month and was subscribed more than 70 times. The Waaree stake sale garnered interest from global investors like Goldman Sachs Group Inc., BlackRock Inc., Morgan Stanley and other small and wealthy investors. The company’s shares rose 56 per cent in Dalal Street debut. 

Investors’ interest in India’s renewable energy sector is rising, which has been the focus of the government of India as well as Prime Minister Narendra Modi. India’s renewable-energy revolution has added more than 100 gigawatts in the last 10 years, exceeding earlier expectations, as per the agency report. 

Another renewable energy sector public issue, ACME Solar Holdings, is also aiming to raise $344 million from its issue; the company has already received strong demand from both the retail and qualified institutional investors segment. The company’s shares are anticipated to list on bourses tomorrow.

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Reliance Industries Ltd (RIL) is set to make its largest investment outside Gujarat, committing Rs 65,000 crore to establish 500 compressed biogas plants in Andhra Pradesh over the next five years. This initiative is part of RIL’s clean energy programme, according to a report by The Economic Times. 

The compressed biogas plants, requiring an investment of Rs 130 crore each, will be developed on wastelands across the state. These projects are expected to generate direct and indirect employment opportunities for 250,000 people, based on estimates by the Andhra Pradesh government. 

The plan was finalised during a meeting in Mumbai between Anant Ambani, who leads RIL’s clean energy initiative, and Andhra Pradesh IT minister Nara Lokesh, who also chairs the state cabinet’s sub-committee on job creation. A memorandum of understanding (MoU) will be signed on Tuesday in Vijayawada in the presence of Andhra Pradesh Chief Minister N Chandrababu Naidu.

To attract investments in biofuels, the Andhra Pradesh government has introduced several incentives under its newly unveiled integrated clean energy policy. These include a 20 per cent capital subsidy on fixed capital investments in compressed biogas plants for five years, along with complete reimbursement of state goods and services tax (SGST) and electricity duty for the same period. 

Confirming the investment, Lokesh stated, “Job creation is one of our key goals, and we have come out with a slew of incentives in our integrated clean energy policy to attract investors and create jobs. Reliance already has extensive investments in AP, and we have been keen to get them to invest further.”

Lokesh further revealed that he initiated discussions with RIL after learning of the company’s interest in expanding its compressed biogas footprint. An action plan was swiftly devised to bring the investment to Andhra Pradesh.

“From first outreach to MoU, we converted this in 30 days,” Lokesh said. “It’s a great example of our ‘speed of doing business’. I’m delighted this MoU is being signed, and we will provide all necessary support for this Rs 65,000 crore investment from RIL,” he said. 

He emphasised the transformational impact of the initiative, particularly in job creation. “The creation of 250,000 jobs will be a game-changer for the state’s youth,” Lokesh said.

Beyond employment, RIL’s project is expected to rejuvenate wastelands and support farmers by training them in the cultivation of energy crops. This could significantly enhance farmers’ incomes, with projections suggesting an increase of Rs 30,000 per acre annually, according to a government official. 

The broader financial benefits for the state are also substantial. The initial estimates indicate that the 500 plants could generate Rs 57,650 crore over 25 years through SGST collection, electricity duty, and taxes linked to employment.

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Equity mutual funds saw record inflows to a tune of Rs 41,887 crore in October, a surge of 21.7% on a month-on-month basis. This growth was fuelled by robust investments in thematic funds. This exemplary performance came despite the heightened volatility in the stock market.

Monthly inflows into mutual fund SIPs (systematic investment plans) breached the Rs 25,000 crore mark for the first time in October, data with the Association of Mutual Funds in India (AMFI) showed on Monday.

SIP contributions during the month rose to an all-time high of Rs 25,323 crore against Rs 24,509 crore in the previous month of September.

In the same month (October) a year ago, monthly SIP inflows were at Rs 16,928 crore.

“Strong flows across categories and asset classes are evident, with equity remaining positive across categories, driven by SIPs reaching an all-time high of Rs 25,000 crore,” says Anand Vardarajan, Chief Business Officer, Tata Asset Management.

Equity mutual funds saw record inflows to a tune of Rs 41,887 crore in October, a surge of 21.7% on a month-on-month basis. This growth was fuelled by robust investments in thematic funds. This exemplary performance came despite the heightened volatility in the stock market.

This also marked the 44th consecutive month of net inflows in the equity-oriented funds, highlighting the ever-increasing appeal of mutual funds among investors.

“Indian mutual fund industry is at an all time high AUM of Rs 67.25 lakh crore. The month shows investors have preferred hybrid funds due to the ongoing volatility in the equity markets. We are positive on the Indian economy and India’s equity market will deliver a reasonably good return while comparing with other emerging markets,” says Hitesh Thakkar, Acting CEO, ITI Mutual Fund.

The inflow was despite heightened volatility in stock markets with Foreign Portfolio Investors (FPIs) pulling out Rs 94,000 crore in October amid weak geopolitical sentiments. The correction in the markets however created a good investment opportunity for investors.

Overall, the mutual fund industry witnessed an inflow of Rs 2.4 lakh crore in the month under review, after an outflow of Rs 71,114 crore in September. The huge inflow was due to investments to the tune of Rs 1.57 lakh crore into debt schemes.

The inflow has lifted the industry’s net assets under management to Rs 67.26 lakh crore last month from Rs 67 lakh crore in September.

As per the data, equity-oriented schemes witnessed an inflow of Rs 41,887 crore in October, a growth of 21.7 per cent from the Rs 34,419 crore received in September. Before this, equity schemes saw an inflow of Rs 40,608 crore in June.

Within the equity schemes, sectoral thematic attracted investors with the highest net inflows of Rs 12,279 crore during the month under review. However, flow in the segment was less compared to Rs 13,255 crore in September.

Indian mutual fund industry witnessed a significant surge in inflows in the month of October with total inflows increasing by nearly 197.82% at Rs 2.39 lakh crore in October 2024, as against Rs 80,528 crore last year. Both debt and equity mutual funds registered a phenomenal surge in inflows on a year-on-year basis with debt funds registering 269.20% growth in inflows at Rs 1.57 lakh crore and equity MF witnessing 109.88% rise at Rs 41,886.69 crore during the month under review.

“The strong surge in inflows came despite the fact that the domestic equity markets fell amid a broad-based sell-off across sectors as fears of a full-fledged war between Iran and Israel impacted investors’ risk appetite. Losses were extended as sentiment was dented following muted earnings reported by major domestic companies for the second quarter of FY25 so far,” says Ashwini Kumar, Senior Vice President and Head Market Data, ICRA Analytics.

However, the net AUM of the MF industry grew by 43.97% at Rs 67.26 lakh crore in October 2024, as against Rs 46.72 lakh crore in October 2023, Kumar said.

Among equity mutual funds, inflows into sectoral/thematic funds grew by 215.19% at Rs 12,278.78 crore. Gold ETFs also witnessed over 133% surge in inflows at Rs 1961.57 crore in October 2024 as it has been increasingly gaining popularity among investors due to liquidity, transparency and global price alignment, Kumar said.

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