Green Stocks June 17: Uncertainty Drags Stocks Lower

It was one of those rare days when the small-cap and mid-cap indices moved in step with the larger indices. That meant a broad correction in green energy stocks, even as some bucked the trend thanks to the good news that is always around the corner for the sector. The good news in this case seems to have been the successful IPO of Oswal Pumps, which underlined the strong investor appetite for quality green firms. The good response to the solar pump and module maker saw Shakti Pumps, the peer firm in our pack, also jump in the morning, before giving up some of the gains. Sterling and Wilson Solar also beat the market handily for most of the day, before giving up some of the gains it made today.

For most of the rest, it was a down day, with most seeing corrections by over 1.5%, in line with the higher-than-usual volatility seen in green energy packs. As we have been saying, the stock outlook and the operational outlook for these firms have diverged a little, with the stock outlook not really reflecting the operational strengths many of the firms have. Consider the Q4 results of ReNew global, a firm not listed in India but at the NASDAQ, which declared its fourth quarter results yesterday. The firm came out with a strong set of numbers, with a special kicker from its solar manufacturing business helping give a fillip to profits. The management expressed optimism about a strong Fy26 as well in terms of margins and demand, something that will please Waaree Energies and Premier Energies, no doubt. Both the leading manufacturers traded with losses today.

Sterling and Wilson Renewable's steady improvement this month should also surprise no one, considering the projects it has behind it and the prospects going ahead. Chartists continue to see a rosy future should some of these stocks overcome key resistance levels. Whether that happens soon, or in July when most of these firms will provide an indication of their Q1 Fy26 performance, it remains a safe bet to say that the risk of dissapointments remains lower than the odds of a positive surprise from most forms here.

List Of Green Stocks