Share prices of power sector companies such as Thermax Ltd, NTPC Ltd and Adani – Siemens and Torrent Power Ltd have witnessed a steady surge
Power stocks have been mostly trading in the positive zone over the last 6 months. The share price of Adani Green Energy Ltd is up from Rs 1,134.70 on Dec 1, 2020 to Rs 1,360.95 as on 24 May, 2021. Whereas, Adani Transmission Ltd share price has surged from Rs 378.95 on Dec 1, 2020 to Rs 1,526.50 in the same period.
Apart from this, Adani Power Ltd is also up from Rs 41.05 on Dec 1, 2020 to Rs 101.05 as on 24 May, 2021. The company posted a consolidated net profit of Rs 13.13 crore for the March 2021 quarter, although the operational performance was affected by lower merchant sales and grid back down. Despite a strong performance by Adani, Siemens Energy, has reported a moderate drop in Q2 revenue. However, the company’s share price has risen from 25.00 EUR on Dec 1, 2020 to 25.76 as on May 24, 2021.
Among the top gainers, Power Grid Corporation of India Ltd is up from Rs 192.35 on 1 Dec, 2020 to Rs 231 as on 24 May, 2021. While as, Thermax Ltd share price has surged from Rs 896.35 to Rs 1,408.95 in the same period.
The power companies have witnessed a decent turnaround in the Q4 of FY-2021. Especially, the growth prospects of Adani Power have increased on the back of strong showing. The potential of the company has improved drastically with an installed thermal power capacity of 12,410 MW spread across six power plants in Gujarat, Maharashtra, Karnataka, Rajasthan and Chhattisgarh.
The integration of technology and robust innovation has seen players like NHPC Ltd, NTPC Ltd, ABB India Ltd, among others take decent strides in the power sector. Due to such developments, S&P BSE Power index has continued to rise from strength to strength.
This Article was First Published in Daily News Junction