Stock market investing has long been seen as a possible means of generating wealth. The significance of time is one of the core ideas of stock market investment. The capacity to recognise and hang onto strong stocks for a long time can result in substantial gains.
In this context, Websol Energy Systems was one company that yielded an incredible return over a five-year period. The company has had a tremendous gain of 1708% from its selling price of ₹24 per share in 2019 to its current level of ₹ ₹434 per share. At ₹449 per share, the stock reached a new high during the previous trading session.
When examining its calendar-year results, the stock has ended the previous ten years on the upswing in six of them. In all six of these years, it produced multibagger returns, with CY21 leading the pack with a gain of 242%, and CY17, CY15, and CY23 following closely behind with gains of over 166%, 158%, and 157%, respectively. All things considered, the stock produced an incredible 5000% return during the past ten years. In light of the stock's all-time low of ₹3.75 per share, it has increased by around 11500% thus far.
One of India's top producers of photovoltaic monocrystalline solar cells and modules is Websol Energy System. Since 1994, it has been engaged in the manufacturing and retailing of solar photovoltaic cells and modules. The company's goal is in line with the Indian government's plans to reduce carbon emissions by one billion tonnes by the end of the decade and produce 300 GW of power from solar PV by 2030.
The company is increasing the capacity of solar modules to 550 MW and solar cells to 2.4 GW in two phases to meet the growing demand for solar cells and modules in both local and foreign markets. According to the company's website, the first phase consists of 600 MW solar cells and 550 MW solar modules, and the second phase consists of 1.8 GW solar cells.
In India, the use of solar energy is growing, especially in the commercial and household sectors. A number of variables, including cost savings, consumer acceptance, and market competitiveness, have contributed to the rise in rooftop solar installations. Commercial property owners find solar electricity to be an enticing way to reduce expenses and increase profits, which has led to significant industry growth.
The government proposes to support the construction of rooftop solar systems for one crore homes under the "Pradhanmantri Suryodaya Yojana" in the most recent Union budget for 2024–2025.
Solar energy is one of the most popular renewable energy sources in India, which has already made significant progress in this area. Over 178.79 gigawatts of installed non-fossil fuel capacity were present in India, an increase of 396% over the preceding 8.5 years. Furthermore, the company's FY23 annual report states that as of May 2023, the installed capacity of solar energy installations had increased by a factor of 24.4, with a total capacity of 66.7 GW. This expansion in capacity occurred since 2009.
