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

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.

Company Name	Closing Price On November 12	Closing Price on November 13	Change %
Borosil Renewables Ltd	470.15	444.70	-5.41%
Waaree Renewable Technologies Ltd	1478.20	1412.55	-4.44%
Sterling and Wilson Renewable Energy Ltd	509.35	483.90	-5.00%
KPI Green Energy Ltd	779.80	750.00	-3.82%
Shakti Pumps (INDIA) LTD	4,575.20	4,392.00	-4.00%
Acme Solar	251.00 (first day opening price)	255.15	+1.65%
SUZLON ENERGY LTD	59.39	54.49	-8.25%
Adani Green Ltd	1,524.15	1,474.75	-3.24%
Inox Wind	200.00	189.90	-5.05%
Gensol Engineering Ltd	801.55	765.25	-4.53%
Premier Energies	1,028.65	981.70	-4.56%
Waaree Energies	2,870.00	2,899.00	+1.01%