May 22- Results, Prospects Support Green Stocks On A Down Day

Strong results from NTPC Green powered up the green energy developer on a day when the markets corrected. Acme Solar, which had also failed to carry its gains yesterday, made yet another attempt to rise, and rose appreciably, as the markets digested the good numbers from the firm as well. Even SME listed Alpex solar which delivered strong Q4 results was up 5%, as green stocks that had a strong momentum or building narrative fared well. A good example of the latter was Waaree Energies, the largest domestic manufacturer of solar modules with a plant in the US, that rose possibly on news of a final decision on tariffs on SE Asian countries. The move is widely expected to benefit Indian manufacturers, although the extent of the gains is yet to be seen considering the rising domestic capacity in the US and the tariff overhang on Indian exports to the US as well. You can read more about that in our story on the US market today.

With most green energy stocks having delivered on the results front to meet or exceed market expectations, even larger players like Tata Power which remain strongly integrated with manufacturing as well as EPC divisions, look set to benefit over the coming quarters. There is as yet nothing on the power demand front to indicate any issues for the number of green projects going online in India, although it might become on by 2028 if adequate storage is not added on to the grid.
But with clear signs that the authorities are aware of what needs to be done, a market recovery is likely to see many of the stocks in the portfolio outperform from these levels through 2025.