Green Stock Sep 20: Record Highs In Markets, Green Stocks Surge As Well

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.

On a day when the markets comprehensively broke new ground and records, the biggest green energy stocks were not to be left behind. Adani Green Energy and JSW Energy led the large-cap developers, while Waaree RTL and SW Solar led the EPCs on a strong day at the markets. The only stocks to miss out were EPC’s Gensol and KPI Green.

With the broader markets in uncharted territory, many of the green energy stocks actually have a lot of ground to recover, having risen to lifetime highs much before the markets caught on. Next week should be a fascinating indicator of the market’s next move, not to mention the search for the next trigger that will provide direction.

Will it be domestic or global? Our bet is on the latter, as domestic triggers have mostly played out, other than the quarterly results that will start pouring in later in October. Before that, there remains the risk of global events weighing in on the markets, and unfortunately, the likely of any positive push from there seems unlikely. Other than larger financing commitments for the Indian green energy market possibly.