Green Stocks Sep 30: Shakti Pumps Pumped Up By Bonus Announcement, Stocks Slip

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.

Even as the broader markets slipped, Green energy stocks followed as well today. Other than Shakti Pumps, powered up by the announcement of a board proposal for a 5:1 bonus issue, and Premier Energies, which continues to enjoy the confidence of punters for a stand-out quarterly performance. Among the rest, EPC firm SWREL suffered, down approximately 5%, even as Waaree RTL almost held on to the gains it had made over the past few trading sessions. The rest all slipped by various degrees, with Adani Green the worst off after a sharp run-up in the large-cap last week.

With the demand environment robust, and firm after firm announcing expansion plans, it might be time to consider long-term prospects for these stocks from a different perspective, rather than just short-term triggers. It is increasingly evident that after China, India seeks to be a major hub in the segment, and a strong domestic market is a key part of the conditions that have been fulfilled towards the same.