Power stocks fall despite ₹1.86 lakh crore PM-DHARA scheme: Tata Power, Adani Power, NTPC, Power Grid in focus
NTPC moved lower in an energy transition development.
· LiveMint Markets
In Thursday's trading, key power stocks fell as the government revealed a ₹1.86 lakh crore scheme to boost transmission and renewable energy. The PM-DHARA initiative aims to enhance infrastructure for accommodating 135 GW of renewable energy, despite current stock market pressure.
The analysis
NTPC reported ₹1.86 lakh crore. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -2.5% on the day at ₹309.00, and has returned -10.4% over three months. It sits 25% below its 52-week high. The power sector has moved -13.4% over the same period, so NTPC is running 3.0 points ahead of its peers.
For NTPC, the question is how much of this is already reflected in the price and how much re-rates the power peer set alongside it.
Why it matters
- The shift to renewables is redrawing which energy names are structural winners versus stranded.
- Infra spending is both an economic-cycle signal and a direct order pipeline for capital-goods names.
Market context
- The company directly in focus is NTPC.
- Sector exposure: Power.
- The immediate tone of coverage reads negative.
In this story
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