Power stocks to watch: Power stocks such as Torrent Power, Adani Power, Tata Power, and others could remain in focus in the upcoming sessions.
This comes as India's power demand surged to an all-time high on April 24.
India's peak power demand touched a record 256 GW, driven by intense heatwaves across the northwest and central regions. The rising use of cooling appliances pushed electricity consumption to unprecedented levels.
The previous record of 251 GW was recorded in May 2024. Notably, 1 GW of electricity can power roughly 1 million Indian homes under average usage conditions.
Heatwaves driving sustained demand
The demand, which has already exceeded grid projections, is likely to remain elevated as heatwave conditions persist in northern and northwestern regions.
According to the India Meteorological Department (IMD), several parts of North and Central India experienced significantly higher-than-normal temperatures. States such as Himachal Pradesh, Madhya Pradesh, Uttar Pradesh, Rajasthan, Gujarat, and Delhi were particularly affected. Delhi recorded temperatures well above normal, while the highest temperature reached 46.9 °C in Akola, Maharashtra.
Need for infrastructure preparedness
The Director General of the All India Discoms Association emphasised that power distribution companies (discoms) must prepare for rising demand. This includes maintaining adequate reserves, backup systems, and transmission infrastructure to enable electricity procurement from other states.
Subrahmanyam Pulipaka, CEO of the National Solar Energy Federation of India (NSEFI), noted that solar energy is no longer just a supplementary source; it now contributes significantly to India's daytime power demand.
NSEFI has projected that solar capacity could surpass thermal power capacity within the next two years.
Growth across energy segments
On the traditional energy side, coal production and dispatch from captive and commercial blocks crossed 200 million tonnes (MT) for the first time. Meanwhile, on the renewable front, the government aims to achieve 500 GW of non-fossil fuel capacity by 2030, with over 50 per cent of the target already accomplished.
Stock-Specific Momentum
Shares of companies such as Torrent Power, Quality Power, and Adani Power have already begun to see gains due to rising energy demand.
Several energy stocks are expected to benefit further as demand continues to grow. In the last month, the energy-related stocks have already witnessed an upside of up to 61 per cent.
| Stock Name | 1 Month Returns |
| Torrent Power | 31.55% |
| Adani Power | 42.38% |
| NTPC | 9.22% |
| Tata Power | 17.50% |
| JSW Energy | 18.17% |
| Quality Power | 60.90% |
| Power Grid Corporation of India | 8.73% |
| Reliance Power | 38.59% |
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
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