Top 5 microcap nuclear power stocks to watch in 2024
electricity in India, accounting for nearly 3% of the total electricity generation. At present, India’s nuclear power generating capacity is 7,480 megawatts (MW), and the government plans to triple it to 22,480 MW by 2031 to meet its net-zero targets. To this end, it is inviting private investments worth ₹2.16 trillion (tn) and is already in talks with some major power sector players.
While the nuclear energy industry is set to grow, companies that supply to this industry will also benefit from it. In this article, we have shortlisted five microcap stocks that supply or undertake EPC projects for the nuclear power sector. Take a look… The company is engaged in the manufacturing of an extensive range of heat exchangers, condensers, separators, and compressors.
It also undertakes turnkey HVAC (heating, ventilation, and air conditioning) projects for its clients. Through its diversified product portfolio, the company serves several industries, including oil and gas, petrochemicals, thermal power, nuclear power, chemicals, and fertilisers. The company started catering to the nuclear power sector in 2017 after it got the N-Stamp authorisation for manufacturing pressure vessels and exchangers for nuclear plants.
Patels Airtemp was the third organisation in India to get such authorisation. Since then, the company's revenue has grown by a compound annual growth rate (CAGR) of 13.3%, driven by high volumes. The net profit also grew by a CAGR of 8.9%.
Patel Airtemp’s products are critical components for nuclear reactors, and power generation facilities helping in heat transfer from one medium to another without mixing the two. This helped the company secure high-value orders. As of October 2023, the company's order book stood at
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