May 15- Green Stocks Continue To Enjoy Investor Confidence

On a day when the broader market struggled to make a decisive move, green energy stocks in our basket had no such problems, with 9 out of 11 racing away yet again. While Waaree Renewable Technologies made its by now predictable return to a 5% upper circuit this time, after two days of lower circuits, KPI Green and Sterling and Wilson Renewable joined it today. All three are EPCs with healthy order book build up.

Larger developer and integrated firms like Adani Green, tata Power also had a strong day, moving up by over 2% in the former’s case. JSW Energy and Inox Wind were the only ones that bucked the trend and stayed in the red but continue to enjoy a healthy valuation bump from their green credentials. Bot Borosil Renewables and Shakti Pumps, benefiting from the solar glass and solar pump business respectively, enjoyed a strong upmove as well at over 3% each.