US Trade Deal Throws Lifeline to India’s Renewables Stocks

India’s renewable energy stocks are starting to shake off their status as stragglers after President Donald Trump’s surprise trade deal with the nation.

Since the accord was unveiled last week, some of the country’s clean power stocks have ranked among the top gainers on a Bloomberg gauge of global peers after kicking off the year as laggards. Solar-energy firms Insolation Energy Ltd. and Oriana Power Ltd. have both surged more than 24% in February, recouping most of January’s losses.

Strategists and fund managers are assessing whether the rebound can sustain. The trade agreement halves tariffs on Indian goods to ...