Green Stocks Nov 13: Acme Makes Tepid Debut, Reshuffle In Green Pack

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.

On a big day for green energy developers, one of the pioneering firms, Acme Solar finally listed on the bourses today. When we last checked, the price of Rs 255.15 which was below its cut off price of Rs 289, which will mark one of those rare occasions when a green energy stock has listed at a discount in recent times. However, will ACME recover in time to deliver the kind of returns other stocks have? It certainly might, but definitely not in the same time frame.

As the market weakness continues, and with it stocks across the board, it is a good time to reshuffle our pack to make it more uniform. As of today, we have dropped Tata Power, JSW Energy and SJVN from our list, on the simply rule that the list will only include stocks where over 50% of the revenues come from green energy or related to it. With that behind us, it is worth noting that today was probably the worst day for the green pack, with most stocks other than Waaree Energies perhaps, witnessing a drop exceeding market correction today. This, even as firms like Waaree Renewable Technologies (See our story on their analyst call) continue to exude optimism about the second half of the financial year, and future performance. All eyes will probably shift to the big one this year on the developer side now, namely, NTPC Green Energy Limited. More on that in a separate story.