Yes they have given reason for all actions,but still stock price have fallen moren than 20% from listing.I know that there were also other headwinds.Any way i booked 30% loss and exited this company.As a stock market participant it is very important to learn chart reading and technicals.If i would have waited for 1 year before entering this story i would have saved my money.Fundamentals and Technicals both matters. TechnoFunda is the thing we should do.
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10× Jump in Receivables: Serious Risk to Earnings Quality? | What’s the Outlook Now?
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The market expected PM-KUSUM 2 to be announced in the Budget with a headline allocation of ~₹50,000 crore, and the absence of such an announcement was interpreted negatively. However, this appears to be a misreading of the situation.
In FY25–26, the allocation for PM-KUSUM was only ₹2,600 crore, whereas in the current budget it has been increased to ₹5,000 crore — nearly a doubling of annual support. This clearly indicates that the government continues to see merit and execution potential in the scheme.
The lack of a headline announcement does not negate the possibility of PM-KUSUM 2. The original PM-KUSUM itself had a total outlay of ~₹34,000 crore spread over multiple years, while annual allocations remained modest in the early phases. A similar approach is possible now: PM-KUSUM 2 could still be launched with a multi-year outlay of ~₹50,000 crore, starting with ₹5,000 crore in the current year and scaling up gradually over time.
In this context, the market reaction seems driven more by expectation mismatch and missing headlines rather than a deterioration in policy intent or industry fundamentals.
I would like to know opinion of others on this.
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The official announcement from the government notes that the new KUSUM scheme will be announced after the current phase ends in March 2026. To quote
On PM-KUSUM, he [Pralhad Joshi] noted that after initial reluctance, the scheme has now gained strong momentum across states, with demand for additional allocations from Chief Ministers. He announced that the second phase of PM-KUSUM will be launched after the present phase ends in March 2026.
There were also stakeholder consultations on the design and implementation of PM-KUSUM 2.0. These deliberations aimed at aligning state action, industry inputs, and policy reforms to accelerate renewable energy deployment across the country
[Emphasis mine].
The various stakeholders have been in meetings with the ministry for a long time now, and many more states are now eager to participate, as noted by Mr. Pralhad Joshi in this interview. 15 minutes worth watching. Summary: “Had to get more buy-in from states, and they now want the scheme to be bigger. MH’s successful model to be used as an example. Simplification. Better financing for farmers. Current scheme to be sunset by 2025/03/30”
Individual states have been announcing their own schemes, and aren’t waiting for KUSUM 2.0. For example, see this article citing the Madhya Pradesh CM. Some quotes
Crop turns into gold if water reaches a dry field. We will ensure that every farm in the state gets water
The farmers will now receive a 90 per cent subsidy for the installation of solar power pumps, up from the earlier 40 per cent
Yadav said farmers are being provided 32 lakh solar pumps on subsidy, enabling them to generate surplus electricity and sell it to the government. The state has expanded its irrigated area to 52 lakh hectares and set a target of 100 lakh hectares
[Emphasis mine]. Similar schemes have been announced by Maharashtra. And if you’re keeping tabs, Oswal and other recently got their first ever orders from Karnataka.
The Pralhad Joshi interview also mentions that the request for the approval has now been sent to the PM office. My guess is that it may go up to June before any new announcements are made. But it may take longer (and meanwhile, the work won’t stop as states are being proactive).
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