Green Stocks Feb 5: Cautious Recovery Continues For Green Stocks

On a day when the midcap and small-cap indices were strong, the green energy cap also made the most of the recovery in the air. While Shakti Pumps was back at the upper circuit limit, seeking a return to previous highs, Adani Green also staged a smart recovery to trade well over Rs 1000 again. Tata Power did well post results, although it gave up some of the gains towards the close, even as Borosil Renewables continued its march ahead with another day of over 2% gains. KPI Green, which seems to get the rough end of the stick every time finally had a second consecutive good day, rising 5% as well. Both the top 2 manufacturers Waaree Energies and Premier Energies consolidated after a see-saw ride this past week, while Acme Solar remains a trader’s delight with a 9% jump today. It is something that should worry the management of the firm, as the price movement on the stock has been simply too high.

With all eyes on the Delhi elections today, we believe the outcome on Feb 8 will not really matter a great deal whichever way it goes. A win for the BJP might seem like a great outcome for the government, but it will come with the risk of intense scrutiny from the national media concentrated in Delhi, which may not be such a great thing after all. A narrow win for AAP, might not be a bad outcome for the government actually, if they can eke out another Rajya Sabha seat out of it.