Green Stocks Sep 5: The Celebrations Continue For Premier Energies With 20% Jump

On a day when the broader market struggled to cross the red zone, green stocks fared no better with a decidedly mix day. That was uplifted by the sterling performance of Sterling and Wilson Renewable (up 5%), and of course, the new listing on the block, Premier Energies, that shot up 20%.

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The wind energy stocks, Inox Wind and Suzlon both enjoyed a green day, moving up marginally. On the other hand, EPC's Waaree RTL, KPI Green, and Solar pump major Shakti Pumps had a day to forget, all down more than the market.

As we have regularly pointed out, the market is caught between those who reckon that current lofty valuations capture most of the upside in green stocks, and those who believe the best is yet to come. So any surprise on the downside is likely to be met with fierce selling. The September quarter results should be a good indicator, as a strong performance from the pack would open the doors even wider for a rush of renewable IPOs.