Green Stocks Nov 10-New Week, Same Old Story

Even as markets tried to perk up as a new week started, most stocks struggled to keep up with hopes, and struggled to retain or gave up any gains made early in the day. Many reasons have been bandied about, including the continued absence of FIIs or the impact of AI sucking off most stock investments towards firms linked to the new technology.  

But some of the damage was certainly self-inflicted, as we saw in the case of Shakti Pumps, which was duly marked down after a profit drop in Q2. While the firm blamed it on a longer-than-expected monsoon and rise in some input costs, the fact is investors don't expect managements to be surprised by these issues, as the experts running the business.

However, even Shakti Pumps had some positives that got lost in the profit news, namely, a record high turnover and installation of pumps during the quarter. With the firm diversifying like almost all solar firms into a wider part of the value chain to capture a larger share, it remains to be seen if the slippages in Q2 will be made up in Q3. 

It's a somewhat similar story at PSU SJVN, which slipped below 85 levels after another insipid quarter, where ordinary results have come with qualifications on projects it was expected to sign up with the  Himachal Pradesh government, where it has already incurred significant costs. 

Interestingly, both the wind energy firms in our pack have done well, on the back of good results and order wins. For Inox and Suzlon, keeping up with levels of Rs 150 and Rs 60 has been quite the challenge, and both will look to break out if the broader market moves, as they have done enough to stay at these levels for now. 

In between all this, Borosil Renewables continues on its merry way, built around hopes of a brighter future rather than bright results, as solar glass margins are expected to stay protected thanks to protection from imports.

List Of Green Stocks