Green Stocks May 5: Spotlight Back On Green Stocks

On a day with a strongly positive undertone, green energy stocks led the charge with strong gains across our group of developers, manufacturers, and EPC firms. Adani Green led, up almost 10% at one stage before giving up some of the gains. Acme Solar also enjoyed a good day at the markets, while NTPC Green was left out of the rush to buy. EPCs had an even stronger day, with Shakti Pumps, Sterling and Wilson Renewable, and Waaree RTL all enjoying strong gains, linked to valuations and order books. Manufacturing majors Waaree Energies and Premier Energies however had contrasting days, with Waaree gaining almost 5% to nothing from Premier Energies. That makes the latter's earnings announcement an even bigger trigger possibly for the next stage of the stock movement.

The two wind farms, Suzlon and Inox Wind exhibited the same behavior, with Inox gaining much more than Suzlon. That left solar glass maker Borosil Renewables to try and make the most of a strong day with some minor gains, as the firm seems stuck with relatively lower expectations now than a quarterback.

The results of KPI Green and Shakti Pumps, when they do get announced could trigger a strong recovery, or selling pressure to new lows, depending on how the market judged the results. It does seem like anything over 35% profit growth will be needed to keep the momentum up.

List of Green Energy Stocks in India