Green Stocks Feb 23- Slip, Slide and Fall Continues

It was deja vu time for market participants, especially the green pack,  as most firms continued their struggles to find a price level where they could build a stable base. That there is the odd positive move on a day like this is largely due to the low values many stocks have been beaten down to, and the fact that actual news has been more positive than the fear of bad news. 

Speaking of which, the higher crude prices definitely had a bearing on the broader markets, besides the continued uncertainty around the rupee, which has also weakened. Readers will be aware that the green energy sector remains relatively highly exposed to foreign exchange movements, across both solar and energy storage for now. Firms can hedge risks, yes, but even that hedge comes with an ever rising costs if the prognosis is for the rupee to be down to say, Rs 92-95 levels.  

The CleanMax IPO made a steady start in all this, and will probably squeak through, climbing over a wall of pessimism, purely on the back of its credentials as a quality firm. Therein lies a tale for many other majors in the sector, to look beyond the headline numbers like order book size or contracts won, and build a reputation for their quality, people, and more to add some much-needed protection to their stock prices. As a young sector, the message will take some time getting through, but it might well be the decisive factor as the market sorts for quality over quantity.  

The week has some time left yet, and the signs are almost certain that February will not be the month where we call a market recovery.

List of Green Stocks