Green Stocks Sep 19: Stocks Mount Recovery (Of sorts)

The week ended on a much better note than it looked like in the first half today, as markets made a recovery of sorts post 3:00 p.m. The green pack, that was almost uniformly down other than Adani Green, recovered somewhat, recouping the losses and some more by closing. While Adani Green, riding the clean chit from SEBI for the Adani group, rode to a 5% jump, Borosil Renewables, Suzlon, Inox Wind, and a few others also rode the recovery well.  

While this provides some relief, the recovery remains a temporary respite for now, and it remains to be seen how the market holds up next week. The signs are for business as usual for now, with key issues including US tariffs still in limbo when it comes to a resolution. 

Two solar IPOs that opened today make for interesting reading in the meanwhile, representing a manufacturer (Saatvik Solar) and an EPC firm (Solarworld). A successful completion of these will be yet another market of the expectations investors have from the sector, though we believe the days of major listing day pops might be behind us. Investors should be happy with 6-12% gains, as even Vikram Solar has been unable to hold on to the prices it rose to post listing. With even bigger IPOs slated for launch in the coming weeks, it will make for some very interesting news of any firm cuts down the size of the IPO considering market conditions.

List of Green Stocks