Green Stocks Buck Market, 3 Locked On Upper Limit

Our renewable pack continues to handily beat the market, if not defy gravity. On a day when the market corrected almost 0.8%, three of the 11 stocks in our basket stayed locked into the upper circuit filter. That one of them made losses in its last quarter (SWREL), and the other two are EPCs in an allegedly low-margin business (Waaree Renewable Technologies) and heavily reliant on business from government entities (Shakti Pumps) does not seem to faze investors betting on a seeming flood of orders. Even JSW Energy managed to buck the market and stay in the green.

Adani Green, India’s largest green energy developer with a target to reach 45 GW by 2030 however, delivered a consistent if underwhelming set of results for the Q4 quarter. Low irradiation seems to have impacted solar generation, leading to a poor quarter, even as its numbers for the full year will please most long-term investors.