Tamil Nadu Revenue Minister Announces 45-Day Petition Disposal Timeframe at Ungaludan Stalin Camps

Revenue Minister K.K.S.S.R. Ramachandran stated that all petitions submitted at Ungaludan Stalin camps will be disposed of within 45 days. Petitions will be uploaded on a separate website, and acknowledgement will be provided to petitioners. The camps aim to bring grievances redressal mechanisms to the doorsteps of people. A total of 349 camps will be held in Virudhunagar district until November 7.

Renewable energy stocks faced a significant blow on Monday as Mizuho downgraded several companies, citing the impact of President Trump's "Big Beautiful Bill" and tariffs on the clean energy sector. Fluence Energy (NASDAQ:FLNC) was particularly hard hit, falling by 3.2% in trading, following a downgrade from Outperform to Neutral by Mizuho analysts led by Maheep Mandloi [1].

Mandloi attributed the downgrade to the potential limitations on short-term demand for utility-scale solar developers, citing interconnection delays and stricter regulatory compliance under the new policy. The policy aims to sunset solar and wind tax credits faster, requiring projects to start construction within the next year to secure full tax credits and by the end of 2025 to avoid using China-made or funded products. Additionally, new Treasury guidance is expected within 45 days, further complicating compliance.

Fluence Energy, despite its strong domestic production and supply of non-China battery cells, saw its price target raised to $10 from $6. However, Mandloi anticipates increased domestic competition within the next 1-2 years, reflecting the current value of Fluence's domestic supply chain in its stock price.

Enlight Renewable Energy (ENLT) and Nextracker (NXT) were also downgraded, with Enlight's shares cut to Underperform from Neutral with a $21 price target. Mandloi cited limited visibility in pulling forward project development beyond 2028 for Enlight, while Nextracker was downgraded to Neutral from Outperform.

Mizuho analysts prefer domestic upstream manufacturers and residential leasing over utility solar developers and balance of system OEMs, naming First Solar (FSLR), Bloom Energy (BE), and Sunrun (RUN) as their top picks in the renewable energy space. ETFs such as TAN, ICLN, and QCLN were also mentioned as potential investment options [1].

References:
[1] https://seekingalpha.com/news/4467239-fluence-energy-other-renewables-names-downgraded-at-mizuho-as-trump-policies-bite