Green Stocks Aug 21- Stocks Struggle To Retain Gains

Even as the markets struggle to find direction with the overhang of US tariffs from August 27, our green pack reflected that uncertainty. Surprisingly, Waaree Energies, India's largest solar exporter to the US, was the key gainer today, as it rose on hopes that it has done a lot to shield itself from the impact. The US, which has started calling the tariffs 'sanctions' in an interesting turn of phrase, continues to be the big factor, with the trade deal and now the tariffs in focus before the August 27 deadline. With the trade deal virtually ruled out anytime quickly, it remains to be seen if the threat of tariffs will browbeat Indian negotiators. 

We saw multiple stocks gain in the morning before giving up those gains and more, indicating just how fearful some investors are after seeing recent volatility. The really interesting sub-plot is the movement in the wind energy pair of Inox and Suzlon, both of whom have shed gains made over the month in the past few trading sessions. The worry seems to be a creeping perception that low solar prices are beginning to impact wind installations, which, in any case, are performing sub-optimally in part due to slowing wind speeds.

Meanwhile, another key manufacturer, Vikram Solar, is set to make its market debut next week, with its IPO oversubscribed comfortably. The firm is expected to list at a premium, despite the rich valuations it has asked for and received, though the script could yet change if August 27 throws up any major surprises. 

On the developer front, the continued weakness or failure to sustain prices will worry ReNew Global, which is looking forward to delisting from NASDAQ and listing in the Indian bourses. That remains the issue to watch out for, whenever it makes its move. For the rest, we continue to advise a wait-and-watch before making any significant moves in the present market. While next week or earlier could bring a minor disruption, the larger risk of a major drop in the US and its effects on the global markets remains for October, as we have mentioned earlier.

List of Green Stocks