Green Stocks Jan 19- Hopes Of Early Recovery Evaporate As Market Weakens Further

Any hopes that were kindled last week for a recovery of sorts driven by some excellent results on both the EPC and manufacturing fronts were doused today as the market slumped yet again, on negative global cues. Between the two triggers, namely the Budget on Feb 1 and the US-India trade deal, whenever that happens, it is becoming clear that both together may also not guarantee a turnaround. Add to that an 'imminent' India-EU deal now, and the queue of positive triggers only lengthens for now. 

For the green pack, it was a disappointing day with most stocks losing ground, although Vikram Solar and Waaree Energies, two of the larger solar manufacturers, did perk up as they announced results dates this week. Both will know, of course, that even a strong Q3 show, as widely expected, will not be able to pull up the stock prices, considering the collective sentiment in the market on future impending challenges. But the stocks will probably readjust higher despite a lower Price-to-Earnings ratio (PE)  if Q3 results deliver on point, as they should. 

The limits of growth are more apparent at Waaree-owned Indo Solar, for instance, which struggled to show quarter on growth growth after hitting peak capacity utilisation for now. Which explains the scramble to diversify into related, adjacent areas like inverters, storage, and more by the key players as well.

List of Green Stocks