Green Stocks May 6: Return To Bases

As the Nifty and Sensex indices corrected 0.3%, to no one's surprise, small and mid-cap stock indices slipped 1.5%, bringing another day of almost all stocks lost, notable among losses suffered is Adani Green Energy, which predictably perhaps, gave up almost all the gains it had made yesterday after the group denied they had been in touch with US authorities regarding allegations against them.

Oher developers like NTPC Green and Acme Solar also slipped, as worries linked to macro stability linked to India's border situation ratcheted up.

Manufacturers Premier Energies and Waaree Energies dropped significantly, the former more so perhaps due to its richer valuations. EPC's, after enjoying a fine start to the week, were back to the weekend levels yet again, surrendering almost all their gains. Shakti Pumps, where pinters are looking forward to a strong Q4 show, slipped up today, after rising 5% with a strong appetite for its shares unmet.

Wind energy stocks Suzlon and Inox Wind, both valued at relatively rich levels as well, both suffered from the nervousness in the markets, slipping over 4% each.

Uncertainty, perhaps the least wanted feature for a capital market, is swirling in the air in India, as people try and anticipate the next steps from a government expected to move after the Pahalgam terrorist attack. Many feel the pressure. and the failure to catch the culprits until now will be adding more pressure still, and might yet force the government to take a step that will have costs for both Pakistan and of course, for India as well. When what and how of this is beginning to fray nerves in the market, so don't expect much to change unless the smoke clears.

List of Green Energy Stocks in India