Green stocks Feb 18- Vikram Solar, Waaree Energies Lose Ground

On an otherwise not so eventful day, it is interesting that two of the oldest and biggest listed manufacturers suffered today. Vikram Solar in particular has had a horror run since its IPO, barely staying above issue price, and now tanking to levels 30% below that. While the firm will consider itself lucky to have raised the money it did at the valuation that it did, it is certainly not doing future solar makers a favour with its performance. Or the prospects of future fund raises for itself actually. 

Beyond that, even as many stocks lost out a little, the underlying trend seems to be ready for an upmove, pending a decisive news input on the global front. Be it the Russia-Ukraine war or the tensions linked to Iran,  even as the domestic  story for India is quietely consolidating at reasonable valuations. The commentary on the possible return of foreign investors has also been turning positive, which would indicate a further upside for levels currently.

On the IPO front, the CleanMax IPO is finally here, and it is certainly the kind of quality firm that the market will look forward to. The only glitch is, that like much else in India now, the firm is asking for a significant valuation from investors , hoping to ride on its status as a key energy supplier to many current and upcoming data centres.  We have no doubts about the pedigree here, just a little worry about the price. Long term investors should not have much worries too, if they get in with a 2 year horizon.

List of Green Stocks