Indian Green Stocks March 13- Early Weekend Brings Little Cheer For Green Stocks

Borosil Renewables Plunges While Most Green Stocks Record Marginal Increase

An early close to the markets this week, thanks to Holi on Friday, failed to bring much cheer for our green pack as well. Whule the odd exception like Adani Green, Suzlon or even Shakti Pumps managed to end the day on a positive note, the broader message remained one of caution, and continuing attrition.

This was typified by yet another day at the lower circuit for Gensol, the EPC now at the centre of a corporate governance storm after it failed to service debt earlier last month. The stock has seen over half its market cap wiped out as a result. The interesting part here is that its troubles are almost solely attributable to a promoter firm where Gensol itself has zero stake, BluSmart mobility. Gensol has been purchasing EVs to lease out to BluSmart, leading to a severe liquidity crunch now.

The sharp drop at other EPC’s in the pack, namely Sterling and Wilson Renewable Energy and KPI Green is probably not linked to that, although even the last EPC left, Waaree RTL suffered a little today. What all this means is that investors who thought they had missed a chance to invest in green energy stocks earlier, are probably wondering if they should enter at these much lower prices. Our advice to them? Wait and watch a little, and stick with actual news rather than rumours.