Shares of renewable energy companies gained after the government announced the auction of up to 21 GW of solar and wind power projects by March2018.
The government is looking at auctioning 17 GW of solar power capacities by March 2018 and 3-4 GW of wind power capacities.
The government has already auctioned 2 GW wind capacities so far in first and second rounds this year. It has also decided to put for bidding 10 GW wind capacities each in 2018-19 and 2019-20 to meet the target of 60 GW by 2022.
Suzlon Energy Ltd is currently trading at Rs 14.85, up by Rs 0.7 or 4.95% from its previous closing of Rs 14.15 on the BSE. The scrip opened at Rs 14.2 and has touched a high and low of Rs 14.85 and Rs 14.15 respectively.
Inox Wind Ltd is currently trading at Rs 144.7, up by Rs 8.25 or 6.05% from its previous closing of Rs 136.45 on the BSE. The scrip opened at Rs 138.1 and has touched a high and low of Rs 147.2 and Rs 138.1 respectively.
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