Green Stocks May 13- Its All Positive Vibes For Green Stocks

Green Stocks May 13- Its All Positive Vibes For Green Stocks

Even as the market corrected after yesterday’s exuberant rally, green energy stocks managed to hold on to a large part of the positive sentiment, with most recording further increases today. Perhaps non more so than KPI Green, which had been beaten down to 360 levels, but rose impressively today to cross the Rs 400 barrier, Of course, the stock has a long road to travel to get closer to its 2024 highs, but the last two days will bring some hope of a recovery.

Continued losses at Borosil Renewables might be making many investors impatient with the solar glass maker, and it showed in a poor day the markets. Sterling and Wilson Renewable, another ‘speculative’ stock that was beaten down, was locked on the upper circuit of 5%, as hopes rose yet again that the promoters will resolve pending issues and start sending more business its way.

On the other hand, after its conference call post results, it became clearer why Shakti Pumps has missed out on the recovery this week. The stock’s high outstanding collections, a natural fallout of the high share of government entities in its client list, seems to be bringing back old worries about cash flow. Premier Energies enjoyed a strong day, as hopes of another stellar quarter of results grow, even as Tata Power corrected a day before its results.

A strange move was Gensol, which, after losing over 90% value in an almost undisturbed slide down, recovered almost 5%, on news that the promoters have resigned from the firm. While that might have raised hopes that the decline will be arrested, we wouldn’t be too sure, considering the scale of the issues dogging the firm.

The short-term outlook continues to be unpredictable, even as the results so far have been in line with expectations of above-average growth. That would indicate that once the market changes direction decisively, our green energy pack might lead the surge yet again.