Green Stocks March 2- Green Pack Becomes Collataral Damage Of Conflict

Hopes of any good news receded over the weekend, and the results were there to see today. The high beta green pack suffered heavily, with losses over 4% common today, as the pack crumbled under the pressure of a weak market. While rising crude oil costs will impact all firms in general, the green pack has been particularly hit on fears perhaps of a broader economic impact on India from the war in the middle east. Including the risk of  hostilities spreading out further.  

Enduring the  worst possible day to list was Cleanmax enviro, shares of which listed today. The shares were down almost 30% from their issue price at one stage, before mounting a minor recovery. This possibly makes it the worst main board debut among all stocks in a year, save for one or two other firms last year. CleanMax, with its stature as the largest C&I focused firm in the solar sector, is easily the most notable listing disaster. 
 
As we have been saying for some time now, the listless performance of most of the green energy stocks augurs poorly for the many firms that were raring to list as well. CleanMax just about made it with a 95% subscription to its premium-priced issue, and will have to bear with investor pressure  now as they lick their losses. For firms that have not even listed, the pressure to bridge the period between March to possibly September this year will be immense, as a listing before that period seems extremely difficult at valuations they would have hoped for even three to four months back. Right now, they will all be looking at a 20-40% haircut, if at all. That may not be financially feasible for many of them.

List of Green Stocks