Green Stocks Sep 26- A Day To Endure For Green Pack

As markets slipped yet again for the sixth day running, the green pack continued to weather the pain as well, in many cases slipping much more than the broader indices.

Borosil Renewables was the strange outlier in a sea of red, holding up somewhat on yet another one of those hopeful bursts of great things to come from the solar glass maker. 

High-flying Waaree Energies continued to slump, brought down by news of US investigations into its exports to that country. The claim that Waaree might have exported Chinese-made cells as made in India, if proven, could mean serious penalties and backdated costs for the leading exporter to the US. Even a settlement, if it comes to that, will not be cheap.  The disproportionate hit taken by stocks like Acme Solar and KPI Green also seems overdone, and one would expect these stocks to bounce back as and when the jitters in the market cool down. 

What might have far more far-reaching effects on solar manufacturers looking to tap the markets is the contrasting response to the listing of solar pump firm GK Energy and Saatvik Green Energy, a solar manufacturer. While the former managed a listing with decent gains, considering the state of the market, Saatvik disappointed those hoping for quick gains with a listing below the IPO price. We are not really surprised by this. Combined with the other recent solar makers, Vikram Solar's own price well below IPO price, these might prompt an up to 20% cut in issue sizes and valuations going ahead from firms in the segment.

List of Green Stocks