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stock market May 12
After the strong rebound that we saw yesterday, as expected, the movement was a lot more sporadic and cautious today. So where Adani Green Energy and KPI Green rose on the back of news on commissioning capacities and order wins respectively, Premier Energies also bucked the downtrend with the announcement of multiple order wins.
Tomorrow is going to be an interesting day to see if the recovery has strength, although investors in SWREL and Waaree RTL will have more reasons to look forward to the day's quarterly announcement of results for Q3 from these firms. As we have been saying, Q3 results and news announcements of the type we say today are the one sure way for green stocks to maintain their high levels.
Shakti Pumps continued to slide back after going all the way to Rs 1387 levels and looks in a zone where investors might see strong value soon.
For the rest, Inox Wind had a strong day with a 45-plus rise, even as Acme Solar continued to flounder well below its IPO price, which we had always found a tad ambitious. The big one to watch tomorrow might be Adani Green as well, as the firm released a consistent 9month update for the year, indicating steady progress on its ambitious plans to reach 50 GW in capacity. a 32% CAGR from here on to 2030 from the current level of 11.6 GW is a good indicator of just how large the opportunity remains in the green energy sector for all firms.
Company Name | Closing Price on January 15 | Change % |
Borosil Renewables Ltd | 575.10 | -1.29% |
Waaree Renewable Technologies Ltd | 1145.95 | +2.45% |
Sterling and Wilson Renewable Energy Ltd | 424.00 | +2.58% |
KPI Green Energy Ltd | 428.80 | +2.44% |
Shakti Pumps (INDIA) LTD | 1,104.20 | -5.00% |
Acme Solar | 222.49 | -2.11% |
SUZLON ENERGY LTD | 57.27 | +0.17% |
Adani Green Ltd | 1,038.00 | +3.09% |
Inox Wind | 162.60 | +4.73% |
Gensol Engineering Ltd | 728.00 | -0.50% |
Premier Energies | 1,146.00 | +2.69% |
Waaree Energies | 2,609.00 | -0.31% |
KP Green Engineering Ltd | 488.50 | +1.53% |
NTPC Green | 119.00 | -1.64% |