In Weak Market, Solar EPC Stocks Stand Out

On a day when the markets remained broadly weak, solar EPCs in our green pack continued to stand pout, with all four of them licked at their upper circuit filters of 5% each. While some like SWREL are riding high hopes, others such as KPI Green and Shakti Pumps are benefitting from outstanding results and a strong order pipeline. Waaree Renewable Technologies has been an outperformer and continues to defy the odds, with future direction linked to its impending results. The large-cap shares, be it Tata Power, JSW Energy or Adani Green reflected the market weakness, as they drifted lower through the day by up to 3%.

It is quite clear that solar growth is being taken for a given by the market today, especially in the rural and mid-market segments, with only some worries for valuations in the utility-scale segment.