Green Stocks April 30: No Joy For Green Stocks On Volatile Day

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Today was an exceptionally rough day in some ways for our green energy pack, as not a single stock ended up in the green. While the extent of losses varied, the losses were hardly insignificant for most, as you can see in the table. EPCs were particularly badly hit, as they suffered higher losses than the rest of the pack.

At this stage, one would have to say that sentiments are a bigger factor than fundamentals, and unless that changes, stocks will struggle to hold gains. Uncertainty levels being high, smaller firms like most of the green energy stocks will carry the brunt of investor nervousness, even as larger players like Tata Power, NTPC Green, and Adani Green can be expected to weather the current downturn. Of course, even these stocks are well away from their highs, which should give them a strong reason to look for a surge. With May and June likely to be dogged by multiple factors, be it the quality of the monsoons or the uncertainty around India-Pakistan issues, or even the quality of the GDP growth to expect in FY26, the green energy sector, that offered one of the few bright spots in the economy, will continue to carry the burden of high expectations.

For now, expect a pause on IPOs in this quarter at the very least, besides a wholesale focus on execution progress.