Green Stocks Jan 28- Green Stock Hold On To Gains In Weak Market

The view that green stocks are at close to their bottom levels would have been reinforced today, as most stocks managed to retain gains made in the morning session, even as broader markets gave up most gains made. While a recovery started on further hopes from the India-EU trade deal, as expected, the deal was not enough to keep it going. Besides the fact that the deal will actually take effect only in 2027, investors will be aware that even that date is not sacrosanct, considering the famed EU bureaucracy and the need for ratification by each EU member. 

On the other hand, Adani Green Energy seems to have convinced analysts about its Q3 numbers being an aberration, as the stock mounted a recovery since yesterday. Others in the green pack also continue to rise in hopes that the worst in terms of valuations is behind them, and existing order books and growth justify no more falls.    

As January ends with significant losses on the markets for most stocks, it will be interesting to see how February goes, as the remaining stocks declare results by Feb 10. Especially considering how the first flush of results in the green pack have had no unpleasant surprises other than the miss from Adani Green Energy. Before all that, of course, is the Union Budget, and investors continue to hope for an effort to align Indian markets with global markets with a cut in LTCG, which might staunch one of the biggest drains on market confidence, the non-stop selling by foreign buyers. And who can blame them, frankly, considering the challenge for them to beat both LTCG and rupee devaluation before seeing any returns from Indian stocks.

List of Green Stocks