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List of 6 Best Indian Solar Stocks to Buy in 2018

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Best Solar Stocks in India

India’s solar market is booming currently with the country recently achieving the 20 GW mark for solar installations. The country with its massive population has huge power needs and many parts of the country still live in darkness. The country has therefore pledged to install 100 GW of solar power by 2022, to resolve its power issues. Solar energy as we all know is free and the clean when compared to the dirty coal that is still a dominating power generating source in India. The fundamentals of installing solar power are becoming lucrative with each passing year, and it is being looked as an attractive investment opportunity in India – with every large corporate house diversifying/ planning to diversify into solar.

India has a huge potential to become a leading solar market and many international companies and financial institutions eyeing India for big investments in this area. It is, therefore, a good time for the Indian investors to diversify their investment portfolios and look at some of the attractive investment opportunities in this sector. Here is List of 6 Best Indian Solar Stocks to Buy in 2018:

i) Suzlon Energy (NSE:SUZLON) is among the top five leading manufacturers of wind turbines globally, with a cumulative wind energy installed capacity of more than 15.5 GW. Though Suzlon is predominantly a wind energy company, the company has smartly diversified into solar, given its huge expertise in EPC and power markets and good relationships with regulators and power utilities. The company boasted of a market valuation upwards of $10 billion at its peak. Currently, shares of Suzlon are trading at INR 12, which is 45% below its 52-week high making it an opportune time to invest. The company also has a big promoter Dilip Sanghvi of Sunpharma on its board.

Solar & Wind in snow

ii) Websol Energy System Ltd. (NSE:WEBELSOLAR) is a leading manufacturer of solar cells and panels in India. With more than two decades of existence, the company has established a reputation for high-quality products, ranging from 5 W to 220 W, catering to the needs of domestic, commercial and Industrial establishments. Shares are currently trading near the INR 90 mark, falling from INR 176 mark recently reached in January this year. The valuations look cheap with a P/E of 3.15x and market cap value of INR 238 crores.

iii) Ujaas Energy Ltd. (NSE:UJAAS) is another leading name in the Indian solar industry with 235 MW of installed capacity. The company has received many accolades for the best-emerging company and for infrastructure. With an engineering experience of three decades, the company aims at becoming a pioneer in “Generation of Green Energy”.  The share prices have slashed by 50% over the last year and are currently trading near the INR 19 levels. Ujaas, as the name suggests, is poised to shine like the “Light at the Dawn”.

Also, read List of Major Solar Panel Companies In India By Manufacturing Capacity

iv) Welspun Corp. Ltd. (NSE:WELCORP) is the parent company of Welspun Energy and Welspun Renewables Energy Pvt Ltd., which is rapidly expanding into solar and wind energy installations over the last few years. The company aims to become one of the top green developers in India and currently has 600 MW clean energy capacity in the pipeline.

v) Urja Global Ltd. (NSE:URJA) is a leading renewable energy developer in India, engaging in design, consultancy, installation and maintenance of both off-grid and grid-connected solar power plants. The company specializes in solar products like home lighting systems, lanterns, street lights, rooftop systems, solar panels, e-rickshaws etc. The company is focusing on electrifying the rural parts of India. Trading at near INR 5 level, the stock is a penny stock, though its market capitalization value is INR 284 crores. The company is in a good position to benefit from India’s rural development wave of opportunity and optimism around solar energy.

vi) Moser Baer (NSE:MOSERBAER) made a strong expansion into all parts of solar energy manufacturing such as polysilicon, thin film as well as crystalline silicon panels. The company has now become a mere shadow of its former self, currently trading near the INR 3-4 levels. The company still enjoys a good position in solar EPC services and PV modules in India. Moser Baer has a manufacturing capacity of 230 MW, out of which only 50 MW is operational.

The country has resolved a 100% rural electrification by 2022 and hence major renewable energy companies on our list of 6 Best Indian Solar Stocks to Buy in 2018, should benefit from this trend.


Sneha Shah

I am Sneha, the Editor-in-chief for the Blog. We would be glad to receive suggestions, inputs & comments on GWI from you guys to keep it going! You can contact me for consultancy/trade inquires by writing an email to

3 Responses so far | Have Your Say!

  1. Yash Jain

    Top Ten Solar Panel Brands (Manufacturers) in India

    MicroSun Solar Tech Pvt. Ltd is a pivotal company in the area of renewable energy providing end-to-end solar PV solutions ranging from manufacturing solar PV modules to solar EPC installations. MicroSun Solar is India’s one of the leading manufacturers and suppliers of Superior quality Solar Photovoltaic Modules under the brand name – ” MicroSun”. The company carries with it more than 11 years of technical experience of successful solar manufacturing and projects in India ( Since 2007 ). The company has set up its own state-of-the-art facility of solar PV modules manufacturing plant with 100 MW in Bangalore, India.

  2. Sam

    Can u tell best solar company share to buy

  3. mubz

    but in 2020, you should think again about your opinions.