Oct 28: Mixed Performance For Green Stocks

On a day when the markets finally reversed the downward trend, green stocks benefited broadly as well. the highlight of the day was no doubt the debut of Waaree energies limited, which listed at an over 50% premium and maintained that level by closing. Even that amazing start may have disappointed many observers who were looking at a 100% premium to its offer price, so the stock remains one to watch.
Among the losers on a positive day were Adani Green, Waaree RTL (The EPC arm of the Waaree group), JSW Energy, Gensol and KPI Green.

Shakti Pumps, which delivered another strong set of results for Q2, was handsomely rewarded for the strong show, with the stock up 5% today. It remains one to watch for further rise, as the record date for the 1:1 bonus announced earlier is yet to be announced.

Waaree Energies relatively muted debut is reflected in the performance of Premier Energies as well, whose price has also settled in the same valuation range broadly. the performance of these two bell weather firms for solar manufacturing in India will be closely watched by a raft of firms waiting in the sidelines with their public issue plans. In any case, if its a solid perspective on the strengths and risks confronting solar firms soon, hope over to catch the cover story of the October issue of the magazine, now out online.