Green Stocks Dec 24: On Listless Day, Green Stocks Also Struggle For Direction

Green energy stocks had an ordinary day at the markets today, with most struggling to find a sense of direction for the year ahead. Thus, last week, and the week earliers star performer, Borosil Renewables, continued to be dragged down on the back of both a better understanding of the limited advantages accruing to it from the anti-dumping duties, and perhaps, the managements own conservative commentary. Both the manufacturing majors, Waaree Energies and Premier Energies stayed in the red, seeking new triggers for the next upmove.

The upside being priced in could eb the story for green developers NTPC Green and Acme Solar as well, although the latter did recover some of the losses it has suffered in the past week.

Shakti Pump was the standout performer by a distance, rising another 5%, as new tender announcements in the solar pumps space kept alive expectations of more major wins for the market leader.

EPC firm KPI Green, despite the second bonus share announcement and the record date announcement as well, continued to give up whatever gains it had made this week. As we said, the upside seems priced in, and the market seems to be in a very demanding mood in terms of concrete news of order wins or other such positives to provide any more space for upmoves.