Green Stocks Feb 4: Stocks Rebound Sharply

As the broader markets heaved a sigh of relief by bouncing back sharply, our green pack had a tough time keeping up. Thus even as most shares rose, many could not quite match the exuberance of the broader markets. That points to a fatigue among investors for the green energy theme, and the focus on quality now. Shakti Pumps was back on the upper circuit, thanks to the announcement of a deal with ReNew for sourcing DCR modules, even as Borosil Renewables also rebounded sharply. But developers eked out much smaller gains as compared to other stocks, with some like Acme Solar even struggling to stay in the green.

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Others including EPC firms like Waaree RTL and SW Solar, even as they gained, are well off the process they were at two months or more ago. Both the Wind energy firms, Inox Wind, in particular, turned in a strong performance, buoyed by strong Q3 results and optimistic management commentary on the next year and beyond.

Premier energies, despite another set of outstanding results, still found its rich valuations a weight too heavy to carry, with the stock actually correcting over 4% today.