Green Stocks Oct 21 – Stocks Endure Another Day With Losses

NTPC Green Energy today entered into the Indian stock exchange. While it opened at a price of Rs 111.5 per share, its price shot up to Rs 121.25.

Hopes must be really high for JSW Energy’s results, for coming out as the sole stock to stay up without suffering losses today. In line with the broader market, especially the small cap and mid-cap indices, green energy stocks uniformly were down today. Losses were higher for a few like Premier Energies, but no one escaped the brush with red today. A little unlucky one might say, considering the long awaited IPO from Industry leader Waaree Energies finally hit the markets, and was expectedly lapped up by investors on day 1 itself. While the current market weakness might impact the listing premium for Waaree on the 28th, there is little doubt that it’s stock market debut will support a better understanding of solar manufacturing in India. Whether that leads to sustained premiums of the kind solar manufacturers have been enjoying, or a correction, remains to be seen.