Green Stocks April 28: Developers Enjoy Strong Gains On Volatile Day

On a volatile day when the smaller indices trailed the major Nifty and BSE Sensex, among green stocks, India's largest green developer Adani Green Energy enjoyed a good day in anticipation of its results. The company of course crossed a key milestone of 12 GW of operational assets with strong momentum to cross 15 GW in FY26 itself.

The rest of the stocks in the green pack made marginal gains, while Sterling And Wilson Renewable lost heavily for a second consecutive day after its results on Thursday, leaving many befuddles at the reaction. However, we believe it is probably due to the continuing uncertainty regarding its claims and counterclaims involving over Rs 600 crores. While losses over Rs 300 crores are indemnified by the previous promoters, for whatever reason, punters don't seem too sure about the outcomes here. Or maybe it's just a case of aversion to any uncertainty.

While Adani Green's results will be awaited, other results are still coming in slowly, and actual Q4 results are expected to drag on till the third week of May for our green pack. It is difficult to see any direction for the stock process until then, considering the other factors hanging heavy over the markets, especially the risk of any escalation with Pakistan.