Green Stocks Jan 22: No Respite For Green Stocks

Other than the redoubtable Shakti Pumps, and a little upward move in Borosil Renewables, green stocks continued to seek support as selling pressure continued today. While market watchers attribute the weakness to the host of measures promised and some taken by the new Trump administration, it doesn’t quite explain the weakness in India. The weakness here continues to be weighed down by the old fears of potential not quite being realised due to a plethora of continuing issues.

Thus, while announcements have been aplenty, many remain skeptical or worried about realising them all. Waaree Energies bore the brunt of President Trump’s antipathy to renewables, as India’s largest module exporter to the US with an almost 10% drop today. Premier Energies was more a victim of its heightened valuations as it crashed 11%. For the rest, we believe it is just pointless to analyse too deeply as price corrections are driven by sentiment, and will look at any trigger, the budget, Q3 earnings, or major policy moves, to seek a reversal. Until then, much like the rest of the market, geen stocks seem destined to be stuck in a rut.