Green Stocks August 13: Inox Wind Blows Away From the Pack With a 10% Jump

On a day when the market dived, three green stocks stood out, namely, Adani Green Energy, Suzlon, and Inox Green, which was up a full 10%. Inox Wind in fact, is up 21% in the past month, while Suzlon is also up an even more impressive 47%. All the other stocks dropped, with Waaree and KPI Green in particular dropping all the way to their lower circuits.

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Even a strong set of financial results in Q1 could not help Gensol Engineering which was down over 6%, while Shakti Pumps paused after its breathless rise to drop by over 4%.

The outlook, if not sunny, is not cloudy for the green pack, as India seems set to best it's 2023 numbers for solar and wind capacity additions handily this year. Besides a comfortable order book for EPC players, this has also been evident in the large purchase orders many equipment suppliers like Suzlon, Inox Wind have collected, besides the parent form of Waaree Renewable Technologies of course.  We believe the market is still seeing the green pack as a buy on dips opportunity, unless there is a secular market decline.