Green Stocks April 25- The Slide Returns

After enjoying a week of relative comfort and feel good rise in prices, green stocks were jarred back to reality today. the mid-cap and small-cap heavy pack had little space to hide as only the large caps escaped in the markets today. Driven by the higher risk of conflict and related risks, investors are just discovering how bad conflict can be for green energy at least. Or a terror incident that demands a response.

While literally every single stock dropped, what might have surprised some was the steep fall in Waaree Energies, which slumped another 6% after yesterday’s 4% drop. However, further downsides seem to be limited due to its strong results and the expanding opportunity for exports to the US.

Sterling and Wilson Renewable Energy, another EPC that announced its results yesterday after market hours, had no such luck despite a decent set of numbers, going down all the way to its lower circuit at 5%.

It was the same story for other EPCs, with both KPI Green, Shakti pumps, and Waaree RTL suffering. Results are awaited for KPI Green and Shakti Pumps, with both expected to do well. It should be very interesting to see just how their valuations settle down, as it is increasingly obvious that a full re-rating is underway for the sector, led by fears of high competitive intensity and overcapacity across the chain.

Even developers could not escape, virtually giving up all the gains from this past week today, notably for Adani Green and NTPC Green. In many ways, a good thing it’s a Friday, to enable the market to digest risks to growth more closely, and also allow temperatures to cool down a notch perhaps between India and Pakistan.

Company Name	Closing Price on April 25	Change %
Borosil Renewables Ltd	509.00	-1.30%
Waaree Renewable Technologies Ltd	1,020.00	-6.82%
Sterling and Wilson Renewable Energy Ltd	310.70	-5.00%
KPI Green Energy Ltd	401.00	-4.93%
Shakti Pumps (INDIA) LTD	902.90	-3.14%
Acme Solar	211.90	-4.70%
SUZLON ENERGY LTD	57.81	-3.83%
Adani Green Ltd	914.95	-5.57%
Inox Wind	171.50	-4.88%
Alpex Solar Ltd	782.00	-3.39%
Premier Energies	985.00	-5.04%
Waaree Energies	2,668.10	-6.05%
TATA Power Ltd	386.80	-2.29%
NTPC Green	103.19	-3.82%