Green Stocks June 9: Stocks Make Steady Gains On Positive Day

With the euphoria of the rate cut behind now, markets moved higher today but much more carefully. Our green pack followed the trend, consolidating gains even as some, like Shakti Pumps continued where they left off on Friday, with 6% gains. Key developer stocks like NTPC Green and Tata Power gained on the back of new commissioning for the former and probably, value buying in the latter. June has brought a back-to-normal situation in the form of rising temperatures and power demand, and expect a few records to be broken sometime this week as well.

While that means good news for the larger, mostly thermal power firms that still dominate the mix, it should be a good time to plan for larger developers as well, as they consider the increasing case for energy storage to avoid low power prices for merchant power at least during solar hours.

EPC firms will also have much to ponder as storage spreads from being good to have to a must feature for more and more renewable power projects.

Unlike say, the auto sector where the China factor in the form of restrictions on rare earth magnet imports is looming large, especially for the electric vehicle manufacturers, we haven't seen any significant noises yet from manufacturers in wind energy, who could also be affected if the situation does not resolve itself. Let's hope it doesn't come to that, at a time when the wind industry is going through one of its best periods of growth.

List Of Green Stocks