Green Stock Oct 29: Listless Day For Green Stocks As Holiday Mood Sets In

Even as the market remained volatile, our green energy pack had a broadly listless day, with most stocks, other than JSW Energy which jumped over 5%, remaining range bound, with a bias towards sudden slippages. That is also a hazard of the lower trading volumes these stocks generally attract, especially the small cap stocks like Shakti Pumps, Waaree Renewable Technologies and others. Doing well on day 2 of its listing was Waaree Energies, which rose a little more on the day, even as peer Premier Energies continued to cede ground. After a burst yesterday, both the wind energy representatives, Inox Wind and Suzlon Energy dropped today on worries that the run up in prices has been too sharp already. Heavyweight Adani Green which has endured an almost 20% drop this month stayed in the green, even as the other heavyweight Tata Power struggled to sustain above Rs 425.

All eyes will no doubt move to the next big green listing, NTPC Green Energy, which has received final approvals and should make a splash in November, from all indications.