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India’s rooftop solar energy capacity to reach 25-30 GW by FY27

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New Delhi, April 15: India’s rooftop solar energy capacity is projected to surge from 17 GW to an estimated 25–30 GW between FY25 and FY27, a report showed on Tuesday.

The expansion is driven by India’s broader energy transition goals, with solar power emerging as a central pillar in the country’s clean energy roadmap.

With a total renewable capacity of 220 GW as of FY25 and a national target of 300 GW solar capacity by 2030, rooftop solar, particularly in the commercial and industrial (C&I) segment, is expected to play a pivotal role in this growth, according to the report by CareEdge Ratings.

As of FY25, India’s rooftop solar capacity stood at 17.02 GW, and increasing awareness among businesses about reducing operating costs and meeting sustainability targets is fuelling adoption.

Government incentives, reducing technology costs, and policy support such as net metering and PLI schemes are expected to further accelerate deployment.

Overall, the FY27 projection underscores a transformative phase for India’s solar industry, setting the foundation for sustained expansion through the end of the decade.

“Rooftop solar installations in India have gained momentum. With the growing C&I demand backed by an improving policy ecosystem, we expect the market to reach nearly 25-30 GW over the next two years,” said Tanvi Shah, Director at CareEdge Advisory and Research.

The PM Surya Ghar Muft Bijli Yojana, aimed at installing rooftop solar in 1 crore households with subsidies up to Rs 78,000, is expected to provide strong support to residential adoption. The scheme not only supports low and middle-income households by reducing their electricity bills but also aims to create nearly 17 lakh jobs, boosting the solar value chain.

Recently, rooftop solar initiative has achieved a historic milestone with 10 lakh installations as of March 10, 2025.

Gujarat remains a leader due to its progressive “Surya Gujarat” programme, while Maharashtra has seen strong commercial and industrial demand, especially from MSMEs and urban commercial hubs.

“The rooftop solar segment which currently holds around 20 per cent share of India’s solar mix is gaining importance due to its distributed nature and direct consumer engagement. This is despite utility-scale solar being the dominant contributor,” said the report.

The growth of rooftop solar market in India has witnessed accelerated growth in the recent years. With strong policy backing, falling costs, and growing consumer interest, it is set to emerge as a key pillar in India’s renewable energy transition, said the report.

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Nifty, Sensex surge over 2 pc this week amid renewed hopes of US-India trade deal

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Mumbai, Oct 18: The Indian equity benchmarks ended the week decisively higher amid short covering from foreign institutional investor (FII) participants and resilient domestic cues.

Market optimism was bolstered by clarity in the India–US trade relations, with both sides tentatively agreeing to conclude the first phase of the deal by November.

The sentiment remained upbeat as Bank Nifty achieved a new milestone, driven by robust buying interest in leading banking stocks. Investor confidence was buoyed by easing concerns around asset quality in the financial sector and expectations of improved volume growth in the festive quarter.

Benchmark indices Nifty and Sensex rose 2.10 and 2.04 per cent during the week, with FMCG, pharma, and auto indices being the major contributors to the rally.

Analysts said that consumption-driven sectors also saw a surge along with a broad-based recovery across realty, healthcare, and banking.

IT stocks remained under pressure due to global discretionary spending concerns and mounting asset quality stress in the US banking system.

Profit booking was also seen in media, and metal stocks, which capped the overall upside of the indices.

The broader market, however, took a breather after a strong run-up, with Nifty Midcap 100 slipping 0.57 per cent and Nifty Small-cap 100 marginally down by 0.05 per cent, indicating selective profit taking by investors.

“Nifty on the weekly chart has formed a sizable bull candle with a higher high and higher low, signalling continuation of the up move. The index broke out above a three-month symmetrical triangle consolidation pattern, indicating a positive bias,” analysts from Bajaj Broking Research said.

They expect the index to head towards 25,900 and then towards 26,200 levels in the coming weeks.

In the holiday-led truncated Diwali week, investors are likely to remain cautious in view of the release of key economic data, such as US inflation, employment, and India’s PMI figures.

Investors are also keen on the cues from the ongoing earnings season and policy signals from major global central banks.

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Navi Mumbai: NMMC Urges Advertisers To Obtain Mandatory Permissions Before Displaying Hoardings, Banners And LED Signage

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Navi Mumbai: The Navi Mumbai Municipal Corporation (NMMC) has appealed to all advertisers, businesses, and citizens to secure mandatory permissions before displaying any form of advertisement within city limits, in accordance with the Maharashtra Municipal Corporations (Regulation and Control of Display of Sky-Signs and Advertisements) Rules, 2022.

As per the Urban Development Department’s notification dated May 9, 2022, the rules are applicable to all municipal corporations in Maharashtra except the Brihanmumbai Municipal Corporation (BMC). Under Sections 244 and 245 of the Maharashtra Municipal Corporations Act, no advertisement can be displayed without prior written permission from the Municipal Commissioner.

The term “advertisement” covers all forms of displays visible from public roads, including hoardings, banners, name boards, neon and glow signs, LED and digital screens, video or laser displays, and other illuminated publicity material.

To ensure compliance, NMMC has appointed M/s Ornate Technologies Pvt. Ltd. to conduct a citywide survey of all advertisement hoardings and signage. The agency will use a mobile application to gather data, contact advertisers through a call centre for guidance, and issue notices to those operating without valid permissions.

NMMC officials have urged citizens and advertisers to extend full cooperation to representatives of Ornate Technologies during the survey. “Our goal is to ensure transparency, safety, and orderly display of advertisements across Navi Mumbai,” said a senior civic official.

“We request all advertisers to regularize their displays by applying for permissions online to avoid penalties and ensure compliance.”

The civic body has directed advertisers to apply through its official website https://app.nmmconline.in, submit the required documents, and pay the prescribed advertisement fees to obtain valid permits before putting up any form of advertisement.

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Markets open lower as investors react to Q2 results; IT stocks drag

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Mumbai, Oct 17: Indian stock markets opened lower on Friday as investors reacted to the second-quarter (Q2) earnings of major companies, including Infosys, Wipro, and Eternal.

Weak cues from Asian markets and renewed US-China tensions also weighed on investor sentiment.

At the same time, gold prices hit a record high, adding to the cautious mood in the market. However, a sharp drop in crude oil prices — with Brent crude falling to around $60 per barrel — may help limit losses for Indian equities.

At 9:20 AM, the Sensex was trading at 83,365, down 103 points or 0.12 per cent, while the Nifty slipped 33 points or 0.13 per cent to 25,552.

“The Nifty managed to hold its gains and ended near the day’s high, closing above the 25,550 mark with a strong bullish candle. This positive momentum suggests continued strength in the near term,” analysts said.

“On the downside, immediate support is placed at 25,500, followed by 25,400, while on the upside, resistance is seen at 25,700 and 25,800 levels,” market experts added.

Eternal, HCL Tech, Infosys, Tech Mahindra, Power Grid, Kotak Mahindra Bank, Trent, Tata Steel, Ultratech Cement, and ICICI Bank were among the major losers, declining up to 3.5 per cent.

On the other hand, gains in Asian Paints, Tata Motors, ITC, Bharti Airtel, Mahindra & Mahindra, and Maruti Suzuki helped trim some of the losses. These stocks rose between 0.3 per cent and 3 per cent.

In the broader market, the Nifty MidCap index slipped 0.28 per cent, while the Nifty SmallCap index edged up 0.10 per cent.

Among sectoral indices, IT was the biggest drag, with the Nifty IT index down 1.13 per cent. The Nifty Pharma and PSU Bank indices also declined by 0.3 per cent each.

“The market is resilient and technically strong. Price action in the leading stocks indicate short covering. Even now there is big shorts in the system and the strength in the market might keep the bears on the back foot, facilitating further short covering,” market experts said.

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