Green Stocks Aug 1- No Respite From Trump Tantrums, As Markets Continue Slide

Indian markets got little respite from selling pressure, as Donald Trump's sweeping actions, with the threat of more to come, continued to pull back stocks. While poor Q1 results has been a factor in driving down markets, for our green pack, that has not really been the case with most firms delivering results that match or beat estimates. That makes the fall in the pack even more painful for some investors. 

Today, leading the push to recover lost ground was Waaree Energies, which continues to have enough positive news to share to keep the stock up, Today, it was the commencement of production at a module plant in Gujarat. KPI Green, the Gujarat-based EPC, was another stock to rise today, to defy the odds. Shakti Pumps, the leading pump maker, also rose, perhaps on the hope of a strong set of numbers, which will certainly help the stock, which has been beaten down to its lowest price-earnings multiple in almost a  year. Tata Power is the other major firm that will be declaring results today. 

Inox Wind also rose today, while Borosil Renewables continues to keep investors optimistic on prospects, as the stock price held up as well. 

While the beginning of a new month hardly delivered the kind of message investors would have hoped for, keep in mind that there is one final surprise pending from Donald Trump, and that is the penalty he has promised for trading in Russian oil. The US is trying to use India's spending on Russian oil to force Putin to negotiate, preferably before Aug 8, which is the new deadline from Trump for Russia. Some sort of a settlement or ceasefire by then, while highly unlikely, would spare India from any more action, for now.

However, a failed effort, and post the August 8 deadline, the country could be staring at some significant action again. Will India stop purchases of Russian oil? Your guess is as good as ours, as the benefits for the country are certainly not so significant so as to be foregone for what is clearly a purely transactional relationship with the US. India will hope to negotiate for some benefits for doing so.

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