Green Stocks Feb 05- Stocks Slip With Broader Markets

Green stocks failed to sustain momentum, with almost all stocks other than Adani Green losing ground under selling pressure. The weakness comes at a poor time for firms like Saatvik Solar, which delivered a strong set of numbers yesterday evening. Tata Power, the other integrated power firm that released its results, also had a great showcase from its RE deivision/s, with solar rooftop and manufacturing in particular delivering pleasing numbers. 

So what next, one may ask? We continue to believe that the worst is behind the green pack, and stocks don't have much downside at these levels. A broad recovery could on the other hand, see the green pack outperform significantly. The only clouds on this horizon remain the risk of rising prices for both solar and for energy storage. Political risk, which always seems heightened when parliament is in session, thanks to the extreme pronouncements made without a care due to parliamentary privilege, should subside once parliament adjourns. 

The budget session in any case is important for a key piece of legislation, the Electricity (Amendment) Bill, which, if passed as many hope it will be, will open up a lot of optimism aropund higher private sector particiption in power distribution besides other measures that should contribute to better accountability and ease of doing business.       

List of Green Stocks