Green Stocks Nov 26: Weak Market, Weaker Green Stocks Performance

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.

As the market struggled to find a decisive direction today, our green pack had problems of its own. The biggest green developer, Adani Green Energy continued it’s slide into new depths, cracking past Rs 900 after news that JV partner Total Energies would be pausing further investments till clarity emerges on the US indictments.

The three EPC players, KPI Green, Gensol Engineering and SW Solar Waaree RTL Also fell together reflecting the general weakness in sentiment. Tired investors however continued to remain optimistic on the future for solar pump leader Shakti Pumps, now trading ex-bonus, which went up another 5% today. It was a similar story for the wind energy makers, Inox Wind and Suzlon, both of which traded with losses today.

When it came to the solar manufacturers, even the announcement of another large 600 MW order could not prevent selling in Waaree Energies, which traded with losses, even as Premier energies continued to make a smart recovery from its lows last week rising to 1100 plus again.

Looking ahead, the big event is obviously the listing of NTPC Green this week, which itself might have to bend to the market sentiment on the day. With news on FIIs finally taking a pause on their selling as well, it remains to be seen if a sustained market recovery will carry Green stocks as strongly as it has done each time in the past 15 months.

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