Indian Government Seeks 500GW Renewable Energy Target by 2030

JM Financial has emphasized the Indian government's commitment to achieving a renewable energy target of 500GW by 2030, addressing key challenges including grid connectivity and power purchase agreements (PPA). However, land availability remains a significant concern, particularly in Karnataka. The brokerage expects that as the share of renewable energy increases, domestic policies will align with global trends, especially regarding subsidy restrictions and market discipline. In a separate analysis, other brokerage firms have recommended stocks such as NTPC, MRPL, and BPCL for potential short-term gains, citing technical indicators that suggest stabilization and upward momentum. Analysts are observing critical price levels that could signal positive trends for these stocks, indicating a cautious but optimistic outlook amid market volatility. Overall, the focus remains on both renewable energy growth and strategic stock picks in the current economic climate.