The stock market saw a lively session today, February 3, as shares of major renewable energy companies and chemical manufacturers surged. The news comes on the heels of the India-US trade deal, which has sent positive ripples across sectors heavily involved in exports.
Market Performance: Renewable and Chemical Stocks on the Rise
Shares of renewable energy and chemical firms recorded strong gains today:
- Waaree Energies: jumped 13.6%
- Premier Energies: rose 9.2%
- Saatvik Green Energy: climbed 6.3%
- Adani Green Energy: gained 10%
- Vikram Solar: increased 8.2%
- Aarti Industries: surged 13.9%
- Gujarat Fluorochemicals: up 8.1%
- Navin Fluorine International: added 7.2%
This movement reflects the direct impact of the trade deal on Indian exporters, particularly those catering to the US market.
Key Drivers Behind the Rally
The India-US trade deal has played a central role in boosting market sentiment:
- The US has reduced tariffs on Indian goods from 25% to 18%, lowering the cost for Indian exporters.
- Additional punitive levies have been removed, offering smoother trade conditions.
- Renewable energy companies like Waaree Energies, Adani Green Energy, and Vikram Solar are among the top Indian exporters to the US, benefiting directly from these changes.
- Chemical exports to the US account for $6 billion, representing 18% of India’s overall chemical exports.
This step is a major boost for India’s solar and chemical industries, helping companies strengthen their position in the global market.
Company-wise Impact
Waaree Energies
Waaree Energies led gains among renewable energy stocks with a 13.6% jump. Its position as a top exporter to the US makes it a direct beneficiary of the tariff reductions.
Premier Energies
Premier Energies saw a 9.2% rise, reflecting investor confidence in its export-oriented business amid improved trade terms.
Saatvik Green Energy
Saatvik Green Energy shares increased 6.3%, buoyed by the overall positive sentiment in the renewable energy sector.
Adani Green Energy & Vikram Solar
Both Adani Green Energy (10% gain) and Vikram Solar (8.2% gain) followed the upward trend, highlighting the broader optimism around solar exports.
Chemical Manufacturers
Chemical companies also felt the positive impact:
- Aarti Industries: 13.9% surge
- Gujarat Fluorochemicals: 8.1% gain
- Navin Fluorine International: 7.2% rise
These gains underscore the importance of US trade for India’s chemical industry.
Summary
The India-US trade deal has given a clear boost to Indian exporters. Renewable energy and chemical companies are at the forefront, seeing stock price jumps ranging from 6.3% to 13.9%. The reduction in tariffs from 25% to 18% and the removal of additional levies have created a favorable environment for Indian exports.
For the market, this is a story of optimism. Renewable energy companies like Waaree Energies, Premier Energies, Saatvik Green Energy, Adani Green Energy, and Vikram Solar are benefiting the most, while chemical manufacturers Aarti Industries, Gujarat Fluorochemicals, and Navin Fluorine International also share in the gains.
This session reflects how strategic trade agreements can immediately influence market performance, particularly for export-driven sectors.
Source: Moneycontrol
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