Green Stocks Nov 28: Adani Bounce Back Continues, NTPC Green Shines

Following its strong recovery yesterday, Adani Green Energy continued its sharp recovery, rising 10% again today. Keeping it company was the newly listed NTPC Green, which rose almost 5% to 127 on the back of a project commissioning. Waaree Renewable Technologies powered up 5% after its announcement late last evening of a 2 GW project.

Both the wind firms, Inox Wind and Suzlon also moved back into green, Inox Wind especially rising over 3%. It was the same story with the two major solar manufacturers, Premier Energies and Waaree Energies, both of whom moved up as well. A somewhat surprising twist was in store for Shakti Pumps, which reversed course sharply after listing ex-bonus this week. The share was down 5%, perhaps due to offloading of the new shares by some investors.

Quite simply, the green pack was much more resilient than the Nifty 50 pack, thanks mostly to a positive news flow around key stocks. Can this be sustained? We will know soon enough, as the next few months are usually key for renewable project commissionings.