Dec 26: Green Energy Stocks Wait On Q3 Results

A day after Christmas, both the broader markets and green energy stocks kept waiting for a rally that wasn’t. If there was any Santa Claus gift, those were reserved for Shakti Pumps yet again, which hit the 5% upper circuit yet again, gladdening the hearts of its believers. For the rest, other than Adani Green which mounted a half-hearted recovery by rising 3%, it was an uneventful day perhaps. Adani Green Energy, of course, having fallen over 50% from its 52-week high, has a long way to recover to make up for the losses it has suffered in the past two months.

NTPC Green expectedly declined significantly, as shared in lock-in became open for trading, adding to the supply of stock in the market. It is a date Acme Solar might also look ahead to with some trepidation, considering the tough time the developer has had maintaining its stock price. Mention should be made of PSU developer SJVN, which has made some large strides in solar and wind energy. The firm, while enjoying valuations well ahead of its historical trends, seems to be struggling to live up to expectations, and the next set of results may not do much to improve sentiment. Investors should tread with more caution here, like for all PSU stocks.