May 23- For a Change Market Plays Catch Up With Green Stocks

On a day when the broader Nifty Index was up almost 1.6%, most green energy stocks trailed market gains. While Waaree Renewable Technologies remained locked into the lower 5% circuit, other EPC players like Sterling and Wilson Renewable also dropped appreciably, while KPI Green managed to hold on to morning gains at close as well. Shakti Pumps saw a topsy-turvy day but eventually closed up over 4%. The larger firms like Tata Power, JSW Energy, and Adani Green, JSW Energy all stayed in the green, but not necessarily ahead of market gains. Suzlon, which seems to have caught a second wind this week, was up 5% however. With the results season almost behind us, the next two months seem to be linked to the election results, where a win for the incumbent government will almost certainly see another 5-10% across the board for the renewables pack. A second trigger of course will be order wins, which should pick up pace from June onwards.

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