Green Stocks Sep 5- Green Pack Ends Week With Some Respite

Even as the markets ended the week in a better mood than the past week, the failure of the significant GST changes to move markets, as well as the green pack, would not have gone unnoticed. The absence, or continuous selling by FIIs, has not helped. 

For our green pack, the fact that many stocks managed to end the day on a positive note doesn't leave much for interpretation, as these movements are just stocks trying to find a solid base after the poor day yesterday. 

But it was clear that EPC firms struggled as a group today, primarily because of the risk of confusion on contracts already signed and executed midway, where GST issues might crop up. It is the same story for developers, who are likely to face claims to reduce costs from buyers, not unfairly, as any change in GST rates has been well established as a change in law event under the PPA. That until then claims were almost the exclusive preserve of developers, and not the discom buyers or SECI or other agencies involved, does not change the picture that claims will follow. Let us hope it does not lead to a logjam of needless disputes.

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