2 power stocks to bet on; value Bharat Forge as a defence play: Sudip Bandyopadhyay

economictimes.indiatimes.com:

Sudip Bandyopadhyay, Group Chairman, Inditrade Capital, says “if somebody is taking a long-term view, power is a utility, it is an annuity business and the way they are pivoting towards green energy does augur well. Of course, there is a possibility of spin-off and corporate restructuring whereby value can be unlocked in NTPC. That is the reason why it has been on my list for a long time.”
Fundamentally, what is the logic in buying power stocks?
I find a strong logic in buying an NTPC or a Tata Power.

NTPC being the largest power utility in the country, they have pivoted very well from traditional energy to becoming a green energy power generator. They have fantastic back-end and front-end integration. And the performance has been consistently improving.

The price also has moved up, no doubt about that.

But if somebody is taking a long-term view, power is, as you rightly said, it is a utility, it is an annuity business and the way they are pivoting towards green energy does augur well. Of course, there is a possibility of spin-off and corporate restructuring whereby value can be unlocked in NTPC. That is the reason why it has been on my list for a long time.
I continue to keep it in my list for a buy for a long-term hold.

In Tata Power also, pretty much the same thing has happened. The pivot for green energy, new energy is happening. They are moving rapidly in that direction.

A bit of challenges which they faced in the previous years are to an extent, a thing of the past. So yes, at current level, for a one-year plus hold, even Tata Power is good. I would not buy GVK Power, Reliance Power and some of the other stocks you mentioned.