In a situation that is testing both the patience and memory of market watchers, the Indian markets continued to slip and slide, with the pain in the small-cap and mid-cap space pronounced today, with over 2% falls across the line.
While enough has been written about the reasons for the weakness, from trade deal to currency devaluation to Trump’s shenanigans, so far, Indian markets haven’t helped their cause by a weaker-than-expected Q3 show in segments like IT and finance, even though the stocks in the green pack have delivered so far.
Firms like Vikram Solar, expected to deliver another strong set of numbers today, would love to forget about the stock price, but for the many investors constantly reminding them about how far they have fallen from their IPO price. It’s the same story for other recently listed stocks, with all being underwater vis-à-vis their IPO prices, and in some cases, seemingly no amount of good news in terms of order wins apparently working to staunch the slide.
With the queue of firms hoping to list showing no signs of shortening, it is indeed a tough call to make for the green pack’s future as well. Will they beat the market when the tide turns? Or trail it thanks to the flood of new paper anticipated? We believe there is no substitute for performance, and some of the firms will simply deliver so compellingly that investors will have to take heed and respect the fundamentals. But for now, we are very close to a point where the fundamentals are getting ignored, which begs the question: Does the market know something that most investors don’t?
List Of Green Stocks
Company Name
Closing Price on Jan 20
Change %
Year To Date
Acme Solar
210.95
-1.25%
-9.93%
Adani Green
885.50
-3.12%
-9.96%
Alpex Solar
771.25
-5.43%
-0.74%
Borosil Renewables
499.20
-3.30%
-3.73%
Emmvee Photovoltaic Power
200.20
-5.60%
+10.25%
Inox Wind
108.10
-3.26%
-9.54%
KPI Green Energy
445.70
+0.72%
-12.06%
NTPC Green
90.55
-1.74%
-2.63%
Oswal Pumps
424.75
-2.02%
-17.75%
Pace Digitek
166.70
-5.01%
-7.66%
Premier Energies
732.00
-0.94%
-12.29%
Shakti Pump
658.00
-4.46%
-4.95%
Solex Energy
1,066.00
-5.21%
-9.2%
Sterling and Wilson
192.54
-4.09%
-6.27%
Suzlon Energy
46.56
-2.96%
-8.9%
Tata Power
352.95
-2.82%
-4.32%
Vikram Solar
214.99
-9.65%
-0.23%
Waaree Energies
2,505.00
-2.16%
-13.74%
Waaree Renewable Technologies
880.00
-3.19%
-5.94%