Green Stocks Nov 12: Waaree, JSW, KPI Green Stand Out As Stocks Slump

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.

The rush of FII selling has left India’s equity markets searching for a temporary bottom. That has meant a severe beating down of prices for many stocks, and our green brigade has not been left unscathed. Today was a day for newly listed Waaree energies to claw back the losses it suffered yesterday, as investor optimism trumped risks from a Trump presidency for its US exports. JSW Energy simply demonstrated strength in a tough market on the back of its strong project pipeline. KPI Green is probably seeing some value buying emerge, as the firm looks ahead to a traditionally strong H2 for EPCs.

To seek out green winners today, you will probably need to look at the SME board, where many solar manufacturers and others continue to trade at very high levels in terms of valuations. Will those valuations sustain even as their larger peer group finds lower levels for stability? Time will tell.