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Power Generation Stocks: Best Power Generation Sector Stocks

India ranks as the third-largest producer and consumer of electricity, with an installed capacity of 476 GW as of June 2025. Power generation in FY25 reached 1,821 bn units, marking a 5% year-on-year rise over FY24. Peak electricity demand touched a record 2,29,715 MW in August 2025, reflecting rising consumption driven by industrial growth, urbanisation, and expanding infrastructure.

Top Power Generation Stocks in 2025

Power Generation Stock Screener

Power Generation Stock Screener: Analyse & Filter Indian Stocks on Tickertape

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NameStocks (14)↓↓Sub-SectorSub-Sector↓↓Market CapMarket Cap↓↓Close PriceClose Price↓↓PE RatioPE Ratio↓↓1D Return1D Return↓↓1M Return1M Return↓↓6M Return6M Return↓↓1Y Return1Y Return↓↓PB RatioPB Ratio↓↓Return on EquityReturn on Equity↓↓ROCEROCE↓↓Dividend YieldDiv Yield↓↓Debt to EquityDebt to Equity↓↓Volatility vs NiftyVolatility vs Nifty↓
1.NTPC LtdNTPCPower GenerationPower Generation3,15,190.133,15,190.13325.05325.0513.4613.460.760.76-1.48-1.48-2.59-2.59-8.59-8.591.651.6513.1513.1510.7710.772.572.571.311.311.661.66
2.Adani Power LtdADANIPOWERPower GenerationPower Generation2,78,644.552,78,644.55144.49144.4921.5421.542.782.78-7.60-7.6027.3827.3833.8233.824.824.8225.5925.5920.4220.42--0.680.683.603.60
3.Siemens Energy India LtdENRINPower GenerationPower Generation1,03,047.031,03,047.032,893.602,893.60252.07252.07-0.41-0.41-10.88-10.885.805.805.805.80--11.6811.6813.0213.02--0.030.032.292.29
4.JSW Energy LtdJSWENERGYPower GenerationPower Generation84,216.3684,216.36482.20482.2043.1743.175.335.33-13.68-13.68-6.70-6.70-29.63-29.632.902.907.797.795.775.770.410.411.731.732.782.78
5.CESC LtdCESCPower GenerationPower Generation22,543.9822,543.98170.07170.0716.4716.470.470.47-1.34-1.342.532.53-10.84-10.841.791.7911.1411.1410.0410.042.652.651.431.432.492.49
6.Reliance Power LtdRPOWERPower GenerationPower Generation14,280.8214,280.8234.5334.534.844.842.952.95-19.91-19.91-50.47-50.47-25.32-25.320.870.8721.0921.0916.1316.13--0.930.934.354.35
7.GMR Power and Urban Infra LtdGMRP&UIPower GenerationPower Generation8,227.058,227.05115.09115.095.805.801.941.94-3.82-3.825.195.191.371.3711.3111.31--29.5829.58--14.0914.093.673.67
8.RattanIndia Power LtdRTNPOWERPower GenerationPower Generation5,166.045,166.049.629.6223.2823.280.520.52-7.63-7.63-31.33-31.33-31.53-31.531.041.044.574.578.068.06--0.650.653.823.82
9.Gujarat Industries Power Company LtdGIPCLPower GenerationPower Generation2,293.012,293.01147.73147.7310.8410.841.301.30-18.24-18.24-28.60-28.60-40.40-40.400.650.656.196.194.234.232.772.770.580.583.023.02
10.Prostarm Info Systems LtdPROSTARMPower GenerationPower Generation1,049.031,049.03178.18178.1835.3435.34-0.79-0.7912.2412.2458.5858.5841.4141.4110.1010.1031.2731.2741.1241.12--0.650.655.375.37
11.India Power Corporation LtdDPSCLTDPower GenerationPower Generation997.16997.1610.2410.24141.84141.84-0.87-0.87-8.66-8.66-26.54-26.54-42.47-42.471.131.130.740.742.772.770.490.490.180.182.832.83
12.Globus Power Generation LtdGLOBUSCONPower GenerationPower Generation142.78142.7814.5514.5540.2240.222.252.25-7.72-7.72-8.95-8.95-27.93-27.9317.5417.5452.8352.8343.5643.56--0.000.004.674.67
13.Chamunda Electrical LtdCHAMUNDAPower GenerationPower Generation59.2059.2053.8053.8017.6217.620.470.47-0.28-0.2819.8219.82-19.10-19.102.362.3621.3921.3919.6119.61--0.000.004.624.62
14.Promax Power LtdPROMAXPower GenerationPower Generation56.2556.2522.5022.5023.9423.940.000.00-10.75-10.75-21.49-21.49-47.02-47.021.871.878.148.1415.4115.41--0.640.646.316.31
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Disclaimer: Please note that the above table is for informational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing. The data is derived from Tickertape Stock Screener and is subject to real-time updates.

Selection criteria: Sub-sector: Power Generation | Market Cap: Sorted from Highest to Lowest

Overview of Top Power Generation Stocks in India

Adani Power Ltd

NTPC Ltd, founded in 1975, is India’s largest power generation company. It operates across thermal, hydro, solar, and wind projects and plays a key role in supporting the country’s overall electricity supply through large-scale generation and capacity expansion programmes.

Adani Power Ltd

Adani Power Ltd, established in 1996, is one of India’s major private-sector thermal power producers. It operates coal-based plants across multiple states and contributes to national baseload requirements while also expanding into cleaner and more efficient generation technologies.

Siemens Energy India Ltd

Siemens Energy India Ltd traces its roots to Siemens’ global energy operations and functions in India as part of the Siemens Energy group, which became an independent entity in 2020. The company focuses on power equipment, grid technologies, and energy solutions supporting India’s transition to modern, efficient power systems.

JSW Energy Ltd

JSW Energy Ltd, founded in 1994, operates power plants across thermal, hydro, and renewable segments. The company is involved in electricity generation, transmission, and energy trading, with a growing focus on renewables and storage projects.

CESC Ltd

CESC Ltd (Calcutta Electric Supply Corporation), established in 1899, is one of India’s oldest power utilities. It manages electricity generation and distribution in Kolkata and surrounding areas, with operations covering thermal power plants and a regulated distribution network.

What are Power Stocks?

Power generation stocks in India are shares of companies involved in producing electricity across different sources such as thermal, solar, wind, hydro and nuclear. These companies operate power plants, sell electricity to distributors, and participate in long-term power purchase agreements.

How to Invest in Power Generation Stocks?

Investing in power sector stocks in India using Tickertape is a straightforward process. Tickertape is a powerful stock analysis and screening tool that helps you make informed investment decisions. Here’s how you can use Tickertape to invest in power energy stocks in India:

  1. Sign Up and Log In: You can create an account on the Tickertape or log in if you already have one.
  2. Search for “Power Generation Stocks”: Go to Tickertape Stock Screener and set the “Sub-sector: Power Generation” filter
  3. Use Filters: You can apply over 200 filters to get stocks sorted based on criteria like market cap, P/E ratio, or returns. You can create your own custom filter, in case your preferred parameters are not available. This can help you narrow down the top power sector shares list in India.
  4. Analyse Stock Data: Tickertape provides comprehensive data on each stock, including financials, performance metrics, future projections, red flags, and more. You can review this data to assess each company’s health and potential in depth.
  5. Add to Watchlist: You may keep track of potential investments by adding them to your watchlist.
  6. Invest Through Your Broker: Once you’ve decided on a stock, you can place a buy order through your brokerage account linked to Tickertape.

You can stay updated with each of your favourite stocks’ alerts and announcements with Tickertape Alerts. Further, you can analyse your overall portfolio and potential red flags in it by connecting it to Tickertape. Check out detailed analysis of your portfolio now!

Government Budget and Policies for the Power Sector

  1. Higher Budget Allocation for Power Infrastructure: India plans to double its overall capital spending by 2030, with about₹25,66,800 cr. set aside for power generation and transmission. This funding supports new power plants, stronger transmission lines, and a more reliable national grid.
  2. Push for Renewable Energy Growth: Policies focus on expanding solar, wind, and hydro capacity. The International Solar Alliance (ISA) aims to mobilise $ 1 tn by 2030 to reduce solar costs and improve clean energy access. These efforts help India move closer to its long-term non-fossil fuel targets.
  3. Thermal Power Support for Grid Stability: Despite the shift to clean energy, thermal power remains important as a baseload supply. The segment is expected to attract ₹2,30,000 cr. in investments by 2027–28 to help add 80 GW of capacity by 2031–32, ensuring steady electricity availability.
  4. Focus on Energy Storage Systems: With rising renewable capacity, storage has become a policy priority. India's energy storage market is estimated to reach ₹4,79,000 cr. by 2032, supporting technologies such as battery storage and pumped storage to maintain grid stability.
  5. Reforms for Power Distribution (DISCOMs): The Revamped Distribution Sector Scheme (RDSS) aims to improve the financial and operational health of DISCOMs. Global funding support, such as the KfW-PFC loan, helps states upgrade distribution networks and reduce power losses.
  6. Boost to Domestic Energy Security: Policies promoting local production have helped India cross one billion tn of coal output in FY24, reducing import dependence and supporting an uninterrupted power supply. Domestic manufacturing in renewable and transmission equipment also receives policy support.

Advantages of Investing in Power Generation Stocks

Stable Demand for Electricity

Power generation companies operate in a sector with consistent demand. Residential, industrial, and commercial consumption creates a steady requirement for electricity, which supports long-term operational visibility.

Diverse Energy Mix

India’s mix of thermal, hydro, solar, and wind power allows companies to operate across different sources. This diversification helps balance risks related to fuel availability, seasonality, or policy changes.

Growth in Renewables

The rapid expansion of solar and wind capacity offers new opportunities for companies to increase their share of clean energy. The shift toward non-fossil fuel sources supports new project pipelines and long-term sector development.

Power Purchase Agreements

Many power producers operate under PPAs with state distribution companies. These agreements provide visibility on cash flows and revenue stability over the contract period.

Rising Industrial and Urban Consumption

Increasing urbanisation, manufacturing activity, and digital infrastructure contribute to higher electricity needs. This demand trend supports the relevance of power generation companies within India’s growth landscape.

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Risks of Investing in Power Generation Stocks

Fuel Supply and Cost Variability

Thermal power companies depend on coal and gas. Any disruptions in fuel supply, transportation issues, or sharp changes in input costs can affect operating margins and output.

Regulatory and Policy Changes

The power sector is highly regulated. Shifts in tariff policies, environmental norms, emission requirements, or licensing procedures can influence project viability and profitability.

Delayed Payments from DISCOMs

State distribution companies (DISCOMs) often face financial stress. Delays in payments for supplied power can impact cash flows, especially for generators with large exposure to certain states.

Project Delays and Cost Overruns

Large power projects require long construction periods. Delays due to land acquisition, financing, clearances, or contractor issues may lead to higher project costs and slower revenue generation.

Seasonal and Resource Dependence

Hydro and renewable projects depend on water availability, wind patterns, and sunlight. Seasonal variability can reduce generation levels and affect short-term performance.

Factors to Consider Before Investing Power Generation Stocks

Energy Mix and Generation Portfolio

The type of power a company produces, thermal, hydro, solar, or wind, shapes its operational risks and long-term visibility. A balanced or strategically aligned portfolio can influence stability and project pipelines.

Tariff Structures and PPAs

Power Purchase Agreements (PPAs) and regulated tariffs determine revenue certainty. Understanding the duration, terms, and counterparties of PPAs helps indicate how stable a company’s cash flows may be.

Exposure to DISCOM Payments

Delays in payments from state distribution companies can impact working capital. Companies with diversified or lower-risk DISCOM exposure may have more stable receivables.

Project Execution Track Record

Timely execution of new projects helps avoid cost overruns and ensures faster revenue generation. Companies with a strong execution history tend to manage timelines more effectively.

Transmission Access and Grid Capacity

Adequate transmission infrastructure is crucial for moving generated power to demand centres. Projects located in congested or underdeveloped grid regions may face evacuation challenges.

Shift Toward Renewable Energy

The ongoing transition to clean energy shapes long-term demand for different types of generation. Companies expanding into renewables or modernising their portfolio may be better positioned during this shift.

Conclusion

Power generation stocks play an important role in India’s energy system, supported by steady electricity demand and ongoing investment in both thermal and renewable capacity. The mix of coal, hydro, solar and wind projects creates a varied operating landscape. At the same time, factors like fuel costs, policy changes, DISCOM payments and project timelines influence how these companies perform. Understanding these aspects helps build a clearer picture of the sector. Investors can also explore company data and filters on the Tickertape Stock Screener, which comes with more than 200 filters to review financials and sector trends.

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Frequently Asked Questions on Power Generation Stocks

  1. What are power generation stocks?

    Power generation stocks represent companies involved in producing electricity from thermal, hydro, solar, wind or other sources. These power sector stocks in India operate power plants and supply electricity to distribution companies or large consumers.

  2. How to invest in power generation stocks?

    Here's how you can invest in power generation stocks:

    1. Go to the Tickertape Stock Screener.
    2. In the 'Utilities' sector, select the ‘Power Generation’ sub-sector.
    3. Analyse and sort the Power generation stocks using over 200+ filters, including valuation ratios, financials, technical indicators, and more, based on your investment thesis.
    4. Review the filtered list, and identify stocks that best align with your risk appetite, return expectations, and investment goals.
    5. Once you've shortlisted the stocks, click ‘Place Order’ to invest in your preferred Power generation stocks.

    Disclaimer - Please do your own research or consult your financial advisor before investing.

  3. What are some of the top Power generation stocks?

    As of 5th December 2025, the power generation stocks in India based on market capitalisation include:
    1. NTPC Ltd
    2. Adani Power Ltd
    3. Siemens Energy India Ltd
    4. JSW Energy Ltd
    5. CESC Ltd

    Disclaimer: Please note that the above list is for educational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing.

  4. What are the factors affecting power energy share price?

    The power energy share price may be influenced by fuel costs, tariff policies, regulatory changes, capacity additions, DISCOM payment cycles, demand trends and the pace of renewable energy expansion.

  5. What is the future projection of power generation stocks?

    The outlook for power companies depends on electricity demand, government policies, capacity expansion, the shift toward renewables and the financial health of state distribution companies. Each company may perform differently based on its portfolio and strategy.

    Disclaimer: Please note that the above list is for educational purposes only, and is not recommendatory.

  6. How to choose power generation stocks for investing?

    Factors such as the company’s energy mix, PPAs, fuel linkages, financial strength, project pipeline, and exposure to DISCOMs. These details provide context on operations and long-term plans.

    Disclaimer: Please note that the above information is for educational purposes only, and is not recommendatory.

  7. Do power generation stocks offer regular dividends?

    Some power companies have a record of paying dividends, while others invest the money for business growth. Dividend payouts vary from company to company and depend on earnings and board decisions.

    Disclaimer: Please note that the above information is for educational purposes only. For the latest data on dividends, please refer to Tickertape Stock Screener.

  8. Are power generation stocks a good investment for the long term?

    India's power generation sector is undergoing significant changes. While the country aims to achieve 500 GW of non-fossil fuel capacity by 2030, coal remains a dominant energy source due to rising electricity demand. Companies with a balanced mix of traditional and clean energy projects may see different outcomes based on policy changes, demand trends and execution. Long-term performance varies by company, and understanding fundamentals helps build clearer context.

    Disclaimer: This information is for educational purposes only and not investment advice.

Disclaimer: This article is for informational purposes only. The content of the article including securities/investment products mentioned if any, should not in any manner be construed as an investment advice, recommendation, offer, solicitation to buy/hold/sell any securities/investment products. The securities quoted if any, are for illustration only and are not recommendatory. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Please consult a SEBI-registered financial advisor before investing.