Indian Renewable Energy Stocks Decline as Inox Wind Falls 5.45% on October 23

Indian stock markets closed lower on October 23, 2026, as benchmark indices recorded modest declines amid cautious investor sentiment. The S&P BSE SENSEX fell 0.17% to settle at 73,123.83, while the Nifty 50 declined 0.39% to close at 22,600.00. Trading across the renewable energy, power, and industrial sectors remained under pressure, with most clean energy stocks ending the session in negative territory. However, select companies, including Larsen & Toubro and Reliance Industries, recorded gains against the broader market trend.

Larsen & Toubro (L&T) emerged among the gainers during the session. Its shares advanced 1.15% on the BSE to close at ₹3,641.50, while the stock gained 0.24% on the NSE to settle at ₹3,647.00. Reliance Industries also recorded positive movement, rising 0.85% on the BSE to ₹1,186.00 and gaining 0.46% on the NSE to close at ₹1,190.00. The gains provided some support amid widespread selling across energy-related stocks.

Inox Wind recorded one of the steepest declines among renewable energy companies. The stock dropped 5.45% on the BSE to ₹59.00 and fell 5.12% on the NSE to ₹58.93. Sterling and Wilson Renewable Energy also witnessed significant selling pressure, with its shares declining 4.61% on the BSE to close at ₹141.80.

NTPC Green Energy Ltd. shares fell 4.07% to settle at ₹81.14, while Adani Green Energy declined 3.86% on the BSE to ₹1,199.80. The company’s shares also recorded a decline of more than 5% on the NSE, reflecting continued weakness across renewable energy counters.

Other major companies in the power and energy sectors also closed lower. Tata Power shares declined by more than 2% to trade near ₹345.90 on the BSE. Exide Industries fell 3.24% to ₹332.60, adding to the weakness among battery and energy storage-related stocks.

Public sector energy companies also faced selling pressure during the session. Indian Oil Corporation shares declined 2.26%, while GAIL fell 2.56% on the BSE. The declines indicated that weakness extended beyond renewable energy developers to conventional energy and gas-related businesses.

The October 23 trading session highlighted the mixed performance of Indian equities, with benchmark indices posting losses and most renewable energy stocks experiencing downward pressure. While select heavyweight companies managed to register gains, declines across wind, solar, power, and battery manufacturing stocks shaped the day’s overall market performance. Investors continued to monitor broader market movements and developments affecting the energy and infrastructure sectors.