11 power stocks including Adani Green Energy, NHPC gained between 20% and 110% in 3 months; check full list

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Also Read Govt to rope in PSUs for solar rooftop initiative; households can get rent According to the latest government data, power consumption in the country has risen to 1354.97 billion units (BU) during the April-January period of this fiscal year, marking a 7.5% increase from 1259.49 BU recorded during the same period in fiscal year 2022–23. The significant increase in power demand has prompted the government to revise its projections for electricity consumption. Also Read: Best renewable energy stock: KP Energy vs Inox Wind Last year, peak demand soared to 243 gigawatts, exceeding initial projections of 229 gigawatts by the power ministry.

In response, India unveiled plans in December to add nearly 88 gigawatts of new thermal power capacity by early 2032, with coal-fired plants accounting for the majority. This represents about two-thirds more capacity than previously planned. The strong surge in power consumption has driven the stock prices of companies within the power sector, including power generators, distributors, and financing firms, to record highs.

Furthermore, the expansion into renewable energy (RE) projects, the new-age business of green hydrogen, solar module manufacturing, and heightened capacity utilisation due to robust demand have contributed to the upward momentum in stock prices. Also Read: 4 best energy sector mutual funds to invest in 2024 Against this backdrop, 11 power stocks have posted gains ranging from 20% to 110% over the past three months. Leading the pack is Adani Green Energy, soaring by 110%.