Green Stock Nov 25: Mirroring Market, Most Stocks Mount Recovery

NTPC Green Energy today entered into the Indian stock exchange. While it opened at a price of Rs 111.5 per share, its price shot up to Rs 121.25.

Even as most green stocks mirrored the broader rebound seen in the Indian markets, Adani Green continued to struggle, slumping a further 6% today. The Green energy developer has been caught up in a US district court indictment, besides SEC charges of alleged wrongdoing in power contracts in India. The other stocks to have a disappointing day were Waaree Renewable Technologies Limited and Waaree Energies, both of which failed to move with the market, Waaree Energies especially was down 4% on fears of the impact on its key US market once the Trump admin takes over next year. The other recent listing, Acme Solar continued its see saw moves, up over 4.5% today.

All eyes will be on the listing of NTPC Green Energy, a firm that seems destined to be among the top 2 developers in the country for renewable energy eventually by 2030 or perhaps, even earlier. That will hardly be the end of the rush from solar firms to list, as the list of possible firms targeting a market listing continues to grow. Keep watching this space for more!