Solar stocks remained in focus on Friday after Premier Energies reported a strong set of June quarter earnings, although the broader pack traded mixed as investors weighed solid operational performance against recent gains in renewable energy stocks. According to Essential Business Intelligence, Premier Energies shares were down around 0.7% in early trade after the company posted impressive results, while Waaree Energies also traded lower, slipping about 1%, and Suzlon Energy outperformed the pack, rising nearly 1% in morning trade. The mixed performance comes after a strong run for solar and renewable energy stocks over the past year.
Premier Energies delivered exceptional June quarter performance with consolidated net profit jumping 50% year-on-year to ₹463 crore compared with ₹308 crore in the same quarter last year, as reported by Essential Business Intelligence. Revenue rose 35% to ₹2,463 crore, while EBITDA increased 30% to ₹715 crore. However, EBITDA margin eased marginally to 29% from 30% in the year-ago quarter. The strong earnings performance has kept the broader renewable energy space on investors' radar despite the initial market reaction.
Brokerages largely retained their positive stance on Premier Energies following the earnings announcement. Jefferies maintained its Buy rating and raised its target price to ₹1,205 from ₹1,135, citing robust execution and a growing order book that provides visibility into FY27 and the first half of FY28, according to Essential Business Intelligence. JPMorgan also maintained its Overweight rating with a target price of ₹1,095, saying the company's greater focus on the domestic market provided stability during the quarter.
Suzlon Energy shares were trading at ₹49.12 on Tuesday, registering a gain of 2.12% from the previous close, according to Moneycontrol. The stock, a constituent of the Nifty Midcap 150 index, showed an upward movement in early trading hours. For the quarter ending June 2026, Suzlon Energy reported consolidated revenue of ₹3,829.09 crore, marking a notable increase from ₹3,131.72 crore in the same quarter last year, representing a 22.28% rise. Net profit for the June 2026 quarter was ₹305.22 crore, slightly decreasing from ₹324.32 crore in June 2025. The company has demonstrated significant growth in both revenue and net profit over recent years, with annual consolidated revenue surging from ₹6,581.78 crore in 2022 to ₹16,731.84 crore in 2026.
Brokerages continue to remain constructive on India's renewable energy theme, supported by rising electricity demand, government incentives for domestic manufacturing, and sustained capacity additions across solar and wind power. The push for local manufacturing of solar modules and cells, along with ambitious renewable capacity targets, is expected to support sector growth over the medium term. Solar stocks are positioned for long-term growth over high summer power demand and government support for domestic solar cells and wind energy projects continue to attract investor attention despite short-term cost volatility, according to brokerages.
