Green Stocks Feb 25: Choppy Waters Still For Green Stocks

Azure Power Analyst Call

As India’s leading stock market index struggled to find a bottom, there was no such luck for the mid-cap and small-cap indices, which continued to lose ground. That meant most green energy stocks followed suit, with just a little value buying perhaps among the solar manufacturers, WAAREE Energies and Premier Energies. Interestingly, both the wind energy stocks in our list, Inox Wind and Suzlon, managed to stay in the green, backed by signs that the commitment with wind remains strong in the government. Signs of some support for Adani Green at these levels emerged, even as Borosil Renewables also seems to have a lot of believers between Rs540 to Rs 550 levels.

February has been relatively slow in terms of project commissioning other than Adani’s 250 MW solar project. a situation we expect to change soon as March starts. In fact, March could see as much as 2.5 to 3 GW of projects commissioned by some estimates, which would be a clear signal to the market about the healthy numbers to come from our pack for the fourth quarter. Here’s to these modest wishes coming true.