Green Stocks Mar 12: Less Red, More Green By Holi perhaps?

Even as markets mostly stayed in the red, there was a splash of green on our pack today, as most stocks made up for a disappointing day yesterday. Leading the way were the larger developers Adani Green and NTPC Green, the former buoyed by news of another 250 MW of commissioning in Kadapa, Andhra Pradesh.

Both the Waaree group firms also stayed green thanks to an order win announcement yesterday by Waaree RTL, and probably value hunting in the parent firm, Waaree Energies. For the EPC firms, however, it continued to be a time for red, as Gensol, Sterling and Wilson Renewable, and KPI Green all logged losses.

With most of March still to play out, it remains difficult to predict movements, but there is a clear sign that the despondent commentary is nearing an end. Value hunting is well and truly on, and it remains to be seen which stocks hold these levels for March, and with a little luck start the next financial year on a brighter note. Watching on will be a slew of firms in the sector that had pinned their IPO hopes on much higher valuations, and will now be forced to shave those expectations or even drop them altogether if the downturn persists.