Green Stocks October 10- Stocks Record Major Gains On Positive Day

The week finally ended on a happy note for our green pack broadly, as most stocks made strong gains. 

While some new green stocks on the main board, like Solex Energy, which has moved from the SME exchange to the main board earlier this week, are discovering life with more liquidity and suffering a price adjustment accordingly, most of the established firms in the green pack did well today. EPC firms, perhaps the most beaten-down segment in the green pack, did especially well, although today's processes are well off from what all these firms would consider a satisfactory valuation in the market. 

Waaree Renewable Technologies, the EPC arm of the Waaree group, will remain in focus as it is set to announce Q2 results after market hours today.  Another group firm, module manufacturer Indosolar Limited, did announce results during market hours and delivered a good set of numbers, with margins at 22%.  

An interesting sidelight was the strong gains recorded by the wind energy firms in our pack, Inox Wind and Suzlon, on the back of a renewed flow of wind tenders and orders, besides their strong order books.

The market is clearly looking to calibrate price expectations based on the strong situation that exists presently, versus the risks to margins and growth a few quarters from now, when pressure is expected to go up with more intense competition. In all this, the fact that the country added 22 GW of capacity in the first half of the year is cause for cheer, pretty much ensuring that 2025 will be a record year for new solar and possibly wind energy additions as well. With the second half also relatively undisturbed due to favourable weather, hopes are high that delivery will be robust. That explains the renewed interest in developers as well, although again, these stocks all have at least a journey of another 10% climb from here on to come back to the levels at which they would feel comfortable.

List of Green Stocks