Green Stocks Jan 7: Stocks Recover Some Losses On Volatile Day

Green Stocks

Green stocks recovered some of their losses from yesterday today, even as the recovery was nowhere close to the ferocious selling and losses suffered yesterday. Leading the way were Borosil Renewables, Shakti Pumps, and EPC firm Gensol. Others, even as they recovered, saw gains to varying degrees, and to that extent, remain rangebound for now. Gensol of course was buoyed by the announcement of a large order win.

The outlook remains cautious for the green stocks, as they align themselves more closely with broader market movements after a period of outperformance. Be it developers, manufacturers, or EPC players, all eyes are on the budget as well now, where actual announcements linked to more incentives, etc may not really be made. What might support the market is a strong reaffirmation of commitment to India’s green energy targets for 2030, which will support a faster build-out of green energy assets.