Tata Power Stock Powers On In Renewable Pack On April 9

On a day when the markets corrected mildly, the renewable pack reflected markets sentiments, albeit with much more volatility. Heavyweight Tata Power was the standout, moving 3.39% during the day to Rs 430.40. Solar Pump leader Shakti Pumps, fresh from a successful QIP, was back in the green, moving up 2.3% to Rs 1474.

All this, even as Borosil Renewables, Inox Green and SJVN all corrected by over 2% today.

The renewables pack remains one of the highest rated pack by price to earnings or even multiple of book value, when compared to historical values. Investors will need to think carefully about this new shift reflecting changing ground realities or signaling overvaluation.