Green Stocks April 9- Waaree Energies Gains On Another Tough Day

Markets continue to be ruled by hope and fear, as the US-China trade war seems to have escalated for now. Of course, we will know soon enough how long this 'war' is going to last, but it is clear to everyone that however distant, it will affect Indian markets as well. Thus, Indian markets duly went down as well, but not in proportion to the wild moves on Wall Street or the Chinese stock exchanges.

Waaree Energies was a standout today, as the module maker seemed to find more takers for its 'insurance' in the form of a module manufacturing plant in the US as well. The other manufacturer in our pack, Premier Energies also managed to stay in the green, while Acme Solar barely stayed in the green thanks to some positive broker reports on prospects for the developer.

The fall in the rest of the pack is no surprise considering the drop in market indices, although EPC player Waaree Renewable Technologies would have loved to celebrate it's listing on the NSE as well with a green day. It is of course a milestone achievement for the firm, and we wish them well as well.

The consensus view remains that there is no consensus yet. While there is no doubt that many stocks are available at attractive valuations, but that comes with the caveat that these valuations appear attractive relative to RECENT prices, or perhaps even processed 9 months back.

On a standalone basis, is our green pack a value pack? We are not too sure, as valuations even today have baked in a 25% plus growth at the MINIMUM for most firms in the list, and any setbacks there will lead to corrections possibly.