Power stocks to stay charged as heat wave sweeps India, say analysts

Power distribution companies, such as Torrent Power, Tata Power, NTPC, and CESC, are expected to reap benefits of increasing power consumption

Nikita Vashisht New Delhi
People cover themselves with clothes to avoid the scorching heat on a hot summer day in New Delhi (Photo: PTI)
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Peak power demand is pegged at 225-230 GW for FY24

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As temperatures soar across the country, amid searing heat wave, analysts see power demand hitting fresh record highs this year. The time, therefore, may be opportune to add related stocks on dips as higher demand boosts earnings visibility, they said.
On April 18, India's electricity demand touched a new high of 216 gigawatts. On the consumption front, India clocked a peak energy demand of 4,836 million units that day, an increase of eight per cent over last year.
In just the first fortnight of April, energy demand has risen by 23 per cent, indicating a sharp rise in use of cooling equipment.


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First Published: Apr 25 2023 | 1:47 PM IST

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