Green Stocks Nov 19- Stocks Fail To Shine On Relief Day For Markets

While the Nifty and the Sensex rose today, most green stocks couldn't really join them in the relief rally as conditions remained tough. Lower trading volumes, lack of fresh positive triggers, and uncertainty linked to cancellations of tenders, with the odd news item confirming it, dragged down green stocks.

The one big bright exception was Emmvee PV, the newly listed stock making up for a weak listing with a strong upmove today as stronger hands brought it into the stock. Another Bengaluru-based firm, Pace Digitek, is now becoming a proxy for energy storage growth for many in the markets, also rose on winning a large battery order from MSEDCL.

Suffering strongly were the stocks from the Waaree group, as the parent firm confirmed that the income tax officials had 'visited' its offices.

Tata Power had a slightly better day on the back of positive commentary from the management on prospects for H2 and the next year, despite a slow start in terms of capacity additions in H1 this year. The firm's module and cell manufacturing margins have been high enough for it to defer its own projects in favour of sales to other parties, even as the rooftop solar business continues to deliver well as well now.  

In general, both solar EPCs and developers seem fairly valued, with a drift towards value-buying opportunities, once the fog over delayed projects is cleared. And a broader market upswing, of course.

List of Green Stocks