Green Stocks May 27- Green Developers Resist Slide

Borosil Renewables Plunges While Most Green Stocks Record Marginal Increase

On a day when the markets slumped significantly after a quiet start, the green energy pack did well to resist losing too many of the gains made yesterday. Large developers like Adani Green, NTPC Green, and even the public sector SJVN managed to eke out gains on a day when the selling pressure was high. That shouldn’t be so unexpected, considering the relatively long-term view on green developers and their bright prospects that has taken root in recent months.

On the other hand, manufacturers like Waaree Energies or Premier faced some pressure, after the hit from US market last week, but were broadly resilient in the context of the overall market.

Another pair doing well were the wind energy firms, Suzlon and Inox Green, both of which continue to strengthen after a mini rout earlier this month. Besides recouping a large part of their losses, the two are also well positioned based on existing order books and more opportunities in the C&I market in particular. What should start to worry some investors is the increasing tendency in BESS tenders to seek Solar +Storage solutions, instead of the expected solar+Wind hybrid solutions with BESS that many had expected in early 2024. It’s a clear market signal based on lower solar costs and improving efficiency, vis a vis rising wind energy costs.

All in all, on a very weak day for the markets, we found most of the green energy pack more resilient than most, with a high chance of staying the course in the weeks ahead.

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