Green Stock Nov 4: As Markets Sweat Over US Elections, Green Stocks Resist

On a day when the broader markets dived, and dived low by over 1.25%, many of our green stocks proved resilient. Newly listed Waaree Energies stood out with another day of gains, inching closer to Rs 3000 per share. The large developers, from Adani Green to Tata Power to JSW Energy however had a tough day in the markets, slipping into the red. This, even as one of the early and largest solar developers, Acme Solar is also set to make it's debut this week in the markets. For now, the issue seems safe considering the still rich valuations on offer for green stocks. Inox Wind and Suzlon both gave up more gains, even as many analysts have revised their outlook for the prospects of these firms in India.

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Between Acme Solar and NTPC Green Energy, the markets have enough green energy stocks coming in, and for a change, it will be developers and not manufacturers. Will they fare better and reward their investors equally well? We wouldn't count on it, although healthy listing gains seem to be a given even now.