The BSE Power index reached a record 8,497 as shares of power generation related companies rose on the back of strong demand and robust order books. The index has climbed 24 per cent in two months and outperformed the BSE Sensex, which declined 0.2 per cent. Six of the 15 stocks recorded all time highs.

Individual stocks posted notable gains, with Siemens Energy India up nine per cent and CG Power and Industrial Solutions advancing 6.4 per cent. ABB, GE Vernova T&D India, JSW Energy and Thermax also registered solid rises as investors favoured firms with visible capex and order momentum.

Hitachi Energy India reported an order backlog of Rs 295,550 million (mn), driven by over Rs 200,000 mn of high voltage direct current orders and two mega six gigawatt (GW) projects linking Khavda to Nagpur and Bhadla to Fatehpur. The company announced an additional capex of Rs 20,000 mn for its Vadodara transformer facility, taking cumulative announced investments to Rs 40,000 mn. Quarterly revenue rose 46.2 per cent to Rs 27,540 mn and profit after tax increased to Rs 3,300 mn.

Adani Green Energy commissioned a cumulative 3.37 gigawatt hour (GWh) battery storage system at Khavda in Gujarat, described as the largest single location deployment outside China and one of the fastest executed. The project was completed in 10 months and aims to strengthen grid reliability and enable round the clock renewable power. The company plans to add over 10 GWh in the coming year and scale storage to 50 GWh over five years.

CG Power and Industrial Solutions said order inflows raised its backlog to Rs 157,190 mn, a 59 per cent year on year increase, and cited strong demand in power systems. The company has expanded transformer capacity to 50,000 MVA from 17,000 MVA and plans to raise it to 65,000 MVA, with FY27 expected to bring accelerating earnings and greater earnings before interest, tax, depreciation and amortisation (EBITDA) contribution from commissioned projects.