Energy stocks gain up to 10% led by BPCL, RIL, IREDA. Here's why
Fri, Feb 2, 2024 2:38 PM

Energy stocks gain up to 10% led by BPCL, RIL, IREDA. Here's why

A Flip by Avya Verma
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The government's Union Budget 2024 focused on clean energy, leading to a 10% jump in energy stocks. BPCL saw the biggest gains followed by IOC. Brent crude prices have dipped below $80 per BBL, contributing to the rally. FM Sitharaman announced measures for renewable energy and increased allocations for solar power. Other initiatives include setting up coal gasification and liquefaction capacity.

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