This week’s trading in renewable energy stocks brought mixed results, with early highs giving way to mid- and late-week declines for most counters.
Adani Green Energy began Monday at its upper circuit price of ₹989. By Wednesday, it had slipped to ₹967, marking a drop of 2.22 percent.
On Friday, it opened at ₹945, which was a further fall of 2.27 percent from Wednesday, and later slid to ₹922. This closing price reflected a 2.43 percent drop from its Friday opening and a total fall of 6.78 percent from Monday’s high.
Amara Raja Energy & Mobility hit the upper circuit at ₹957.95 on Monday. It eased to ₹943 by Wednesday, showing a 1.56 percent decline.
On Friday, it traded at ₹931, which was 1.27 percent lower than on Wednesday and 2.81 percent below Monday’s peak.
Borosil Renewables started the week at ₹616. By Wednesday, it touched ₹607 at the upper circuit, down by 1.46 percent.
On Friday, it opened at ₹601, showing a 0.99 percent drop from Wednesday, before falling further to ₹591. This was 1.66 percent lower than its Friday opening and 4.06 percent down from Monday.
Overall, Monday’s early optimism for renewable energy counters faded midweek, with all three stocks ending the week lower than they started.
Market experts suggest the decline in green energy stocks could be due to profit booking after strong rallies in previous weeks, coupled with global cues of rising interest rates, which make investors cautious about high-valuation sectors.
Additionally, short-term volatility in renewable energy counters is being influenced by fluctuating commodity prices and concerns over delayed policy incentives in the sector.
Stock market investments are subject to market risk. We are not promoting any company shares, nor giving you any advice to invest your money. Please do your research before any investment. All the data is taken from Paytm Money.
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