InvestorQ : What explains the sudden rally in power stocks like Adani Power, Torrent Power and JSW Energy?
Chandralekha Desai made post

What explains the sudden rally in power stocks like Adani Power, Torrent Power and JSW Energy?

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NISHA Nayak answered.
2 weeks ago
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Power stocks have been rallying and they have been rallying hard in last few weeks. For example, most of the power majors in India like Adani Power, Torrent Power, JSW Energy and Power Grid touched all-time high levels during the week. In addition, you have stocks like Tata Power, CESC and BHEL which are already trading at their 52-week highs.

Here is the big trigger. Power stocks were delighted by India’s power consumption growing 12.6% to 25.36 BU or billion units, in first week of Jun-21. On 07 June, peak power demand was recorded at 168.72 GW. However, that is just one side of the story. Apart from these temporary issues, the markets are also betting a greater renewable focus in power stocks.

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