Green Stocks July 19: Stocks Enter Weekend On Weak Note

Stocks reflected the weakness in broader markets to trend lower today. While the results we have seen so far bear out expectations of a solid Q1, broader market weakness ensured that almost no stock really made a move today. Waaree Renewable, of course, continued to hold gains after a stellar Q1, but Sterling and Wilson Solar got no such response to its own equally strong results. 

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An unusually munificent monsoon in high energy consumption states and lower temperatures so far this summer are also weighing down on the power sector in general, further putting pressure on stocks as energy demand remains subdued.

A broad market revival looks unlikely, which is also going to keep most stocks in our pack in limbo, with a chance to break out linked to Q1 results for the rest. Narrative-driven rallies might be behind us for now. The move in the US by local manufacturers to include imports from India too for higher tariffs, was expected to hurt the two solar manufacturers, Waaree Energies and Premier Energies. It was interesting to see both hold up relatively well in the morning, before finally cracking a bit in the afternoon. However, both continue to enjoy rich valuations on the back of a strong domestic market for now.

List of Green Stocks

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