Green Stocks July 24: Solar Manufacturers Stand Out On A Weak Day

With markets continuing to struggle, solar manufacturers Premier Energies and Waaree Energies more than held their own today, gaining ground at a time most stocks slipped up. 

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While the big shocker today was the drop in the share price of IEX (not part of our green pack for obvious reasons), the IEX move does show just how drastically policy action can impact stocks in the energy sector. It's a truism that holds for green stocks as well, and it was nowhere better shown than in the smart recovery in Borosil Renewables stock, despite a very ordinary Q1 set that was hit by provisions for its German subsidiary. Borosil is expected to fare well as it focuses on India with the umbrella of anti-dumping duties protecting it from Chinese competition. 

EPC firms seem to have bid goodbye to the revival of interest in their prospect, as most slipped today. Even KPI Green, which held up, is below its recent highs of over 550. 

While integrated firms with strong prospects like Tata Power have been hit by other factors like legal cases, or even the pause on government purchases from its Mundhra plants post June 30, other developers like NTPC Green, Adani Green, and even Acme Solar have struggled to break out of a range. All these moves point to a market where green stocks remain finely balanced between their own prospects and market sentiments. It might take much more than just meeting market estimates in Q1 numbers to break free.

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List of Green Stocks