Green Stocks Prepare For the Next Run As Results Season Looms

On a day when the market seemed to be in a mood to consolidate, our green energy stock pack moved in a different direction. So while Waaree Renewable Technologies, after a three-day reversal, was back testing the upper circuit, it joined Shakti Pumps, which seemingly has unsatiable demand for its stock right now. KPI Green also reversed from the lower circuits it had been hitting for two days, going up once again. A day before its Q4 results, Adani Green stayed in a range, even as Tata Power and JSW Energy continued to do better than the broader market. With power demand soaring, and domestic orders also flowing, the stage is seemingly set for a race to meet market expectations for all of these firms. A notable exception is Borosil Renewables, which, even as it expanded capacity, continues to face the risk of Chinese competition. It was down almost 1% today.