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Green Stocks August 5: Market Crash Singes Green Energy Stocks Too

On a day when global markets were roiled by multiple issues ranging from the escalation of Middle East hostilities to the US-Japan carry trade

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Saur News Bureau
Updated On
Green Stocks July 31: Solar EPC's Carry The Weight Of High Expectations And Valuations

On a day when global markets were roiled by multiple issues ranging from the escalation of Middle East hostilities to the US-Japan carry trade, India's markets too bent to the global winds. As the nifty dropped over 2.5%, green energy stocks, the market's favorites during the sharp rise seen this year, suffered, with developers, EPC's, and manufacturers all taking a hard knock. The exceptional performer was Shakti Pumps, which stood alone in the carnage with a sharp 4.5% jump. Backed on yet another major government order win under the PM KUSUM scheme, this time from UP.

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For the rest, it was a day of either the 5% lower circuit (Waaree Renewable Technologies, Gensol, Suzlon, SWREL) or even worse, where the lower circuit went lower to 10%. The only saving grace was that the 10% level was not breached by any.

So what does the market crash portent for renewables? Well, for one, key global indicators like the price of solar cells remain further down, indicating enough advantages for solar developers to build on. Domestic manufacturing ramp-up also means India is better placed than ever to ride out short-term disruptions, although a sustained supply disruption over 2-3 months could cause serious damage. Let's hope it doesn't come to that.

Company name

Closing Price On

August 2

Closing Price on

August 5

Change %

Borosil Renewables Ltd551.40508.70-7.74%
Waaree Renewable Technologies Ltd1510.051434.55-5.00%
Sterling and Wilson Renewable Energy Ltd658.80625.90-4.99%
KPI Green Energy Ltd1007.90967.65-3.99%
Shakti Pumps (INDIA) LTD4695.454870.15+3.72%
TATA POWER CO. LTD.460.30434.70-5.56%
JSW Energy Ltd722.45684.30-5.28%
SUZLON ENERGY LTD71.4467.91-4.94%
Adani Green Ltd1880.451770.00-5.87%
Inox Wind Energy8552.658001.00-6.45%
SJVN Ltd143.90139.30-3.20%
Gensol Engineering Ltd1001.80951.75-5.00%
Tata Power Suzlon Energy Adani Green jsw energy Gensol Engineering Shakti Pumps SJVN Ltd Borosil Renewables sterling and wilson renewable energy KPI Green Energy Inox Wind energy Waaree Renewable Technologies
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