Green Stocks Nov 7: Stocks Dragged Down With Market

NTPC Green Energy today entered into the Indian stock exchange. While it opened at a price of Rs 111.5 per share, its price shot up to Rs 121.25.

Market gyrations caught up with green sticks yet again, as most slipped along with the broader market. The standouts were solar glass maker Borosil Renewables and Shakti Pumps, which hit the upper circuit today. With most results out of the way, it is clear that many in the markets believe that upsides in green stocks have been priced in, making stock prices very sensitive to results and other news events. So it seems like it will be back tp order wins, policy announcements and other factors that will drive prices from here on. Acme Solar’s IPO, which has been open since yesterday, reflected this new realism, with subscriptions struggling to take it over the 90% mark. With no grey market premium expected, investor apathy was not unexpected for the green energy developer in a slippery market. While this will probably edge through, all eyes will shift to the next big launch, the NTPC Green Energy IPO, which continues to have a lot of anticipation built in.