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Prices as of 8 Oct 2026 close · Not investment advice

Tata Power Company

NSE: TATAPOWERIntegrated Power Utilities

Share price

₹335.65

-2.75% close of 8 Oct 2026

Market cap ₹1.07L CrP/E 27.4

Business score

How strong the business is, in one number. The parts behind it are in Pro.

50

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹1.07L Cr

P/E ratio

27.4

P/B ratio

2.7

ROCE

10.5%

ROE

10.2%

Dividend yield

0.7%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 8 Oct 2026 close52-week high ₹461.8052-week low ₹335.65

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales fell 4.2% over the past year. Meanwhile what it keeps of every 100 rupees of sales improved from 13.9% to 20.2% over the last four years.

Whether it grew faster than its sector

It grew 11.2% a year against a sector median of 10.7% — 0.6 percentage points faster.

Room to re-rate, or risk of de-rating

At 27.4× earnings against a market that pays 23.9× across 2199 companies we can price. Its own industry sits at 25.9×, across 4 companies. It is against its own five-year median of 32.2×, the 11th percentile of its own range.

Whether growth justifies the valuation

Priced at 4.6 times its growth rate, on earnings growth of 6%.

Profit growthPrice per ₹1 profitPer 1% growth
Tata Power Company — this one6%/yr27.4×₹4.6
Adani Power6%/yr25.4×₹4.2
Torrent Power4%/yr26.3×₹6.6
CESC Limited4%/yr11.0×₹2.8
DPSC Limited-7%/yr47.5×—

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Integrated Power Utilities), it ranks 4 of 5 on returns, 2 of 5 on growth, 2 of 5 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

No durable advantage shows in the numbers: it earns 10.5% on capital, ahead of 20% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

Yes — Over the last five years it made ₹45036 crore of cash from the business and spent ₹41603 crore on plant and equipment, with ₹3433 crore to spare; it still raised ₹7736 crore mostly borrowed — borrowings rose from ₹51195 crore to ₹76141 crore. And the profit is real: of every 100 rupees it reported over 12 years, about 302 arrived as cash — well above the profit; depreciation and interest are the reason, not a windfall. Its cash comes back more slowly than it used to: it went from being paid 180 days before it paid its own suppliers to paid 138 days before it paid its own suppliers.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

7 of 9 checks clear · 78%

Latest result

What the last results showed. Whether management kept its word is in Pro.

Results are expected soon.

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹1.07L Cr
Prev close
₹335.65
52w High
₹465
52w Low
₹334
Enterprise value
₹1.69L Cr
Beta
1.0
Price CAGR 1y
-10.0%
Price CAGR 3y
11.0%
Price CAGR 5y
14.0%
Price CAGR 10y
16.0%

Ratios

Return on assets
2.9%
PEG ratio
4.6
P/E ratio
27.4
P/B ratio
2.7
EV / EBITDA
13.2
Industry P/E
26.3
ROCE
10.5%
ROCE 5y average
10.8%
ROE
10.2%
Debt / Equity
1.9
Interest coverage
2.3
Dividend yield
0.7%
ROE 3y average
11.0%
ROE last year
10.0%

Annual P&L

Annual revenue
₹62,429 Cr
Annual profit
₹5,118 Cr
Operating margin
21.0%
Net profit margin
8.2%
EBITDA margin
21.3%
Sales growth 3y
4.2%
Sales growth 5y
13.8%
Profit growth 3y
6.0%
Profit growth 5y
27.0%
EPS
₹11.7
Sales growth TTM
-4.0%
Profit growth TTM
-5.0%
Dividend payout
21.0%

Quarter P&L

Sales latest quarter
₹19,051 Cr
Profit latest quarter
₹1,401 Cr
YoY quarterly sales growth
5.6%
YoY quarterly profit growth
11.0%
OPM latest quarter
20.3%

Balance Sheet

Book Value
₹123
Face Value
₹1.0
Total debt
₹76,141 Cr
Total cash
₹13,644 Cr
Borrowings
₹76,141 Cr
Reserves / Equity
122.3

Cash Flow

Operating cash flow
₹5,993 Cr
Free cash flow
-₹7,677 Cr
FCF yield
-12.0%
Net cash flow
-₹353 Cr

Shareholding

Promoter holding
46.9%
FII holding
10.0%
DII holding
18.1%
Public holding
24.7%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
Adani Power188.3525.53,63,2270.004,866.642.018,901.934.017.2
Tata Power Co.335.5027.51,07,2040.731,400.910.919,051.35.610.5
Torrent Power1,215.8026.361,2651.64661.9-12.78,124.22.813.7
CESC129.3011.017,1404.65419.03.95,485.05.410.9
Reliance Infra.56.451.02,3070.00767.8409.46,344.37.415.4
India Power Corp6.3047.96140.004.1321.4166.121.53.5
Median158.8225.939,2020.36714.826.57,234.26.512.3

Competes with: Adani Energy Solutions Limited, Adani Green Energy, Adani Power, CESC Limited, DPSC Limited, JSW Energy, NTPC Limited, Power Grid Corporation, Torrent Power

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales15,21315,73814,65115,84717,29415,69815,39117,09618,03515,54513,94814,90019,051
Expenses12,50012,96712,23413,54014,23212,42712,31213,85014,47012,24310,89412,30115,191
Material Cost1,8981,9492,1692,0362,4651,999
Change in Inventories49-40-2211707.74-286
Purchases of Stock-in-Trade116.4213158.242.93
Employee Cost1,2611,1611,1021,1961,2341,185
Other Expenses10,63210,8209,1807,4778,58612,137
Operating Profit2,7132,7712,4172,3073,0623,2713,0793,2463,5653,3023,0552,5993,860
OPM %18181715182120192021221720
Other Income8775671,0921,4075786325896844948591,0561,773630
Exceptional items (within Other Income)18000-940
Interest1,2211,1821,0941,1361,1761,1431,1701,2131,2791,3191,3641,2951,407
Depreciation8939269261,0419739871,0411,1161,1611,1621,2081,2801,260
Profit before tax1,4761,2311,4891,5371,4901,7731,4571,6001,6191,6801,5401,7971,823
Tax %23172832203818182226222123
Net Profit1,1411,0171,0761,0461,1891,0931,1881,3061,2621,2451,1941,4161,401
EPS in Rs3.042.742.982.803.042.903.233.263.322.882.423.123.68
Diluted EPS in Rs3.263.312.882.413.113.67

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales33,59329,49427,58826,84029,88129,13632,70342,81655,10961,44965,47862,42963,445
Expenses27,29227,38922,11421,83323,44922,33125,78235,78547,38150,71453,02949,15750,629
Material Cost4,9218,618
Change in Inventories-441-84
Purchases of Stock-in-Trade3242
Employee Cost4,3734,694
Other Expenses42,66336,063
Operating Profit6,3012,1055,4735,0076,4326,8056,9217,0317,72810,73512,45013,27112,816
OPM %1972019222321161417192120
Other Income1,0564,0601,2973,8733,8242,2801,7752,4865,5403,4162,6893,4334,318
Exceptional items (within Other Income)-122-94
Interest3,6993,2363,3653,7614,1704,4944,0103,8594,3724,6334,7025,2575,384
Depreciation2,1741,6491,9562,3462,3932,6342,7453,1223,4393,7864,1174,8114,910
Profit before tax1,4841,2811,4502,7733,6931,9581,9412,5355,4575,7326,3206,6366,840
Tax %72532462933261530252423
Net Profit4577861,1002,6112,6061,3161,4392,1563,8104,2804,7755,1185,256
EPS in Rs0.622.453.318.908.713.763.535.451012121212
Diluted EPS in Rs1212
Dividend Payout %2105339151541443219171821

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
8%
5 years
14%
3 years
4%
TTM
-4%

Compounded profit growth

10 years
118%
5 years
27%
3 years
6%
TTM
-5%

Stock price CAGR

10 years
16%
5 years
14%
3 years
11%
1 year
-10%

Return on equity

10 years
9%
5 years
11%
3 years
11%
Last year
10%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital270270270270270270320320320320320320
Reserves14,04811,36312,94416,12918,03519,29622,00322,12228,46832,03635,52139,148
Borrowings40,60738,84948,81548,58948,50651,93646,70851,19552,92353,68962,86676,141
Other Liabilities20,26019,57520,79916,90317,26218,17229,62538,91346,38653,01057,48758,956
Minority Interest6,7658,071
Total Liabilities75,18570,05782,82981,89284,07389,67498,6551,12,5501,28,0961,39,0541,56,1931,74,564
Fixed Assets44,72636,41446,59544,65644,30547,66652,17957,38961,74767,21078,37487,293
CWIP3,3231,3452,1781,6532,5761,6123,2704,6355,37611,56112,67914,595
Investments3,44511,78511,87312,42913,54214,53513,14914,16016,67016,31616,31616,575
Other Assets23,69220,51322,18423,15423,65125,86130,05636,36544,30343,96848,82456,102
Total Assets75,18570,05782,82981,89284,07389,67498,6551,12,5501,28,0961,39,0541,56,1931,74,564

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity5,9817,4157,0146,3644,5747,3758,3456,6937,16612,50412,6805,993
Cash from Investing Activity-3,865-1,805-7,373-1,512-272-493993-6,250-7,263-8,935-15,436-14,129
Cash from Financing Activity-2,239-6,183937-4,726-5,184-5,110-7,603-1,1831,341-4,4974,2927,783
Net Cash Flow-123-574579126-8831,7731,736-7411,243-9281,536-353
Free Cash Flow2,5545,3113,7082,8601,0405,1866,558-540-440-59012,680-7,677

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days604451385455585146443226
Cash Conversion Cycle604451385455585146443226
Working Capital Days-90-214-32021-174-152-204-180-168-145-165-138
ROCE %9596788912111111

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters474747474747474747474747
FIIs109.859.449.509.159.459.381010101010
DIIs161615151716161616171818
Government0.320.320.330.330.330.330.330.330.330.320.310.31
Public272728282728282726262525
No. of Shareholders38,07,72539,80,32844,35,22646,07,35145,45,43846,40,37146,67,43945,14,49644,03,55742,44,11641,05,01939,96,318

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -13.5% (₹388.20 → ₹335.65)Brick size ₹8.05 (fixed)Bricks 41
₹350₹400₹450₹336Nov '25Feb '26Apr '26Jun '26Aug '26Oct '26
Price moved up one brickPrice moved down one brickLast close ₹335.65 on 8 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

61,141inr_cr

2026-03-31

net debt as the company states it (net cash negative)

61,238inr_cr

2026-06-30

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

FY revenue / permanent employees + workers, same basis (calc)

2,77,44,989inr

2026-03-31

News

News and filings about Tata Power Company. Open one to see why it matters.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

  • Coal

Depends on the price of

  • coal

Buys from

Sells to

  • Tata Steel · Captive thermal power (Industrial Energy Ltd, 74:26 JV with Tata Steel)

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Power
Industry
Integrated Power Utilities
Classification
Power › Integrated Power Utilities
ISIN
INE245A01021

Business segments

  • Transmission and Distribution · 60%
  • Renewables · 22%
  • Thermal & Hydro · 17%
  • Others · 1%

Plants

  • Bengaluru Solar Cell Factory · Bengaluru, Karnataka
  • Bhivpuri Hydro · Bhivpuri, Maharashtra
  • Jojobera TPP · Jamshedpur, Jharkhand
  • Khopoli Hydro
  • Maithon Power · Dhanbad, Jharkhand
  • Mundra UMPP · Mundra, Gujarat
  • Prayagraj Power · Prayagraj, Uttar Pradesh
  • Tirunelveli Solar Module Factory · Tirunelveli, Tamil Nadu
  • Trombay Thermal Station · Mumbai, Maharashtra

News impact

Big market events that reach Tata Power Company, and how the effect spreads.

1 Oct, 21:40 IST · Market event · medium impact

India’s solar boom faces new US tariff challenge

New US tariffs tax India's solar panel exports, hurting makers Waaree Energies and Vikram Solar, while domestic power producers feel nothing and may even buy cheaper panels.

Power

Who it hits first

  • America is raising tariffs on imported solar gear, striking at India's booming panel exports.
  • Panel-makers Waaree Energies (30.2% of sales abroad) and Vikram Solar (16% abroad) face taxed or delayed US orders.
  • Domestic power producers feel no direct hit — and panels diverted home could even turn cheaper.

Who may gain

  • Tata Power — solar-farm builder buying Waaree panels; diverted panels could cut project costs
  • Adani Green and Acme Solar — solar-farm owners; cheaper panels help new builds, though heavy debt caps the cheer

Along the supply chain

Downstream

Downstream, Indian solar-farm builders such as Tata Power, Adani Green and Acme Solar may buy the diverted panels more cheaply.

Upstream

Upstream, glass and cell suppliers such as Borosil Renewables feel second-hand pain if module output slows.

Where demand moves

Business

US buyers slow or reprice Indian panel orders, denting export demand for Waaree and Vikram; the unsold panels divert into India's home market instead.

Capital

Investors are likely to sell solar exporters on margin fears while leaving domestic power producers alone, since no Indian power sale is touched.

How it spreads across sectors

Capital Goods

Solar module makers Waaree and Vikram face taxed US orders and export-margin pressure.

Power

Domestic power sales untouched; solar-farm builders may gain cheaper panels while exporter shares drag mood.

A pattern seen before

Cascade chain

  • US tariff on Indian panels → solar export orders slow
  • Unsold export panels divert home → domestic panel prices soften
  • Cheaper panels → lower building costs for solar-farm owners

Pattern name

Energy Transition Cascade

Patterns

  • Energy Transition Cascade

Sectors queried

  • Auto
  • Oil & Gas

When it plays out

Immediate

In the first week, solar exporter shares fall on the tariff headline while power producers stay flat.

Medium term

Over six months, diverted panels reprice India's home market, helping farm builders and hurting exporter margins.

Short term

Over the next month, US order revisions and final tariff rates show how deep the export hole runs.

Who it hits first

  • Coal India, the state coal miner that digs most of India's coal, sold about 12% more coal in the July-September quarter than a year ago.
  • Its deliveries to power stations rose about 11%, reaching 48.90 million tonnes in September against 44.20 million tonnes last year, up 10.63%.
  • Selling more tonnes without building new mines should lift Coal India's sales and profit this quarter, since each extra truck of coal adds revenue at low extra cost.

Who may gain

  • Coal India itself, as higher volumes directly raise its sales.
  • NTPC, India's largest power generator, which burns Coal India coal and can run its plants more steadily with fewer fuel shortages.
  • Adani Power and Tata Power, large private power producers, which get more reliable domestic coal and can cut costly imports.
  • CESC, the Kolkata power utility, which can keep its coal plants stocked and avoid last-minute purchases.

Along the supply chain

Downstream

Power generators (NTPC, Adani Power, Tata Power, CESC) receive steadier coal, letting them generate more electricity; steel and cement plants using coal for heat see steadier supply but no price cut.

Upstream

Mine helpers such as explosives makers (Solar Industries) and equipment suppliers (BEML) see no instant new orders, because selling more coal from existing output does not mean blasting more rock this month.

Where demand moves

Business

Power stations pull more coal from Coal India to meet strong electricity demand, so coal moves from mines to power plants instead of piling up as stock; steel, cement and aluminium buyers see no new orders from this power-led jump.

Capital

Investors are likely to favour coal and power-generator shares on the volume beat, while bidding up fuel-security stories like NTPC and Adani Power and looking past unrelated miners.

How it spreads across sectors

Construction Materials

Cement makers see steadier kiln fuel supply but no direct cost relief from power-sector dispatches.

Metals & Mining

Aluminium and steel makers face steady coal availability with a negligible cost nudge, too small to shift earnings.

Oil, Gas & Consumable Fuels

Coal miners enjoy a demand readthrough as strong offtake signals healthy buying, though oil and gas producers see no spillover.

Power

Thermal power generators gain fuel security, supporting higher plant use and steadier earnings.

Commodity angle

Commodity

coal

Move series

coal

Note

Coal shows a demand shock at 96 USD/tonne (1M 0%, move -1.031% used for margins); only National Aluminium carried a measurable -8.454 bps impact, copied to its signal, with all other dependents at null.

Shock

demand

Unit

USD/tonne

When it plays out

Immediate

Coal India and power-generator shares react to the volume beat; traders check September dispatch data.

Medium term

If dispatches stay strong, Coal India earnings rise and power plants sustain higher output; a monsoon or demand dip could unwind the gains.

Short term

Power plants report better coal stocks; analysts nudge Coal India volume forecasts higher.

1 Oct, 14:17 IST · Market event · medium impact

India power shortfall hits three-year peak

India's power shortfall hit a three-year peak, letting generators like NTPC and Adani Power earn more from higher prices while homes and factories pay costlier bills.

Power

Who it hits first

  • India's power shortfall, where demand outstrips supply, has hit a three-year peak, even though coal plants are burning more fuel.
  • With electricity scarce, wholesale (merchant) power prices rise, so generators with spare or market-linked capacity earn more per unit.
  • NTPC, Tata Power, Adani Power and other generators are first in line for that uplift; regulated transmission earnings at Power Grid move far less.
  • Homes and factories face the other side: costlier power or less reliable supply until the deficit eases.

Who may gain

  • Thermal and flexible generators such as NTPC, Adani Power, Tata Power and JSW Energy: higher merchant prices and fuller plants.
  • Power traders such as PTC India: wider spreads and higher volumes on the exchanges.
  • Coal suppliers such as Coal India, which supplies NTPC and Tata Power: higher coal burn to meet the deficit.

Along the supply chain

Downstream

Downstream, Tata Power supplies power to Tata Steel, which faces costlier electricity, and all industrial buyers pay more per unit until supply catches up.

Upstream

Upstream, coal miners such as Coal India, which supplies NTPC and Tata Power, benefit from higher coal burn, and equipment and service providers see steadier order books as plants run harder.

Where demand moves

Business

Business demand for electricity itself is the story: factories and homes want more power than the grid can supply, so every available unit sells at firmer prices and generators sell more at better rates.

Capital

Capital rotates toward merchant-exposed generators on earnings-upgrade hopes, while regulated transmission and contracted renewables see little fresh buying since their cash flows cannot reprice.

How it spreads across sectors

Power

Generators gain pricing power and fuller plants from the deficit, while regulated transmission and distribution earn little extra and absorb political pressure over tariffs.

When it plays out

Immediate

Merchant power prices firm and generator shares attract buying; grid operators urge conservation.

Medium term

New capacity and normal monsoon hydro ease the deficit; prices normalise unless demand keeps outrunning supply.

Short term

Higher coal burn and peak-season demand keep prices elevated; generators report stronger realisations.

Who it hits first

  • The Union Cabinet (the central government's top decision body) approved the PM DHARA scheme with Rs 1.86 lakh crore of total support for renewable energy (solar and wind power).
  • KPI Green Energy, the solar power developer, and Vikram Solar, the solar panel maker, are named in the pack as directly in line for new orders and projects.
  • The money flows over months and years through tenders and subsidies, so this is a demand pipeline for the green-power chain, not cash today.

Who may gain

  • Solar developers such as KPI Green Energy, Adani Green and ACME Solar gain project visibility and warmer financing interest.
  • Solar equipment makers such as Vikram Solar gain panel-order demand as developers expand building plans.
  • Grid and equipment firms gain follow-on connection work, while coal-heavy generators gain little from this scheme.

Along the supply chain

Downstream

Downstream, big factory buyers of green power get more clean-supply options over time as developers build, though no price or tariff changes today.

Upstream

Upstream, solar panel and component makers see more module, cell and structure orders as developers turn the scheme pipeline into build plans.

Where demand moves

Business

Strong business-demand pull: Rs 1.86 lakh crore of scheme-backed tenders and support means more solar plants ordered, more panels bought from makers like Vikram Solar, and more construction for developers like KPI Green.

Capital

Capital rotates toward listed green-power names on the outlook upgrade, and lenders warm to renewable project finance, while thermal-only names see no new money reason.

How it spreads across sectors

Capital Goods

Follow-on equipment demand: module, electrical and construction suppliers to solar developers see fatter order books.

Oil & Gas

Muted near term: cheaper future green power only slowly displaces fuel demand over years, not quarters.

Power

Direct demand boost: developers, panel makers and green IPPs gain order visibility; thermal and distribution names are untouched.

A pattern seen before

Cascade chain

  • Cabinet clears Rs 1.86 lakh cr PM DHARA renewables scheme
  • Solar developers (KPI Green, Adani Green) and panel makers (Vikram Solar) gain order visibility
  • Grid, equipment and EPC demand rises across Power and Capital Goods
  • Auto (EV charging) and Oil and Gas (fuel displacement) feel only slow second-order effects

Pattern name

Energy Transition Cascade

Patterns

  • Energy Transition Cascade

Sectors queried

  • Auto
  • Oil & Gas

When it plays out

Immediate

1–7 days: green-power and solar shares jump on the headline; developers and panel makers lead the move.

Medium term

1–6 months: tenders and equipment orders start flowing; developers with land and grid access turn pipeline into revenue.

Short term

1–4 weeks: focus shifts to scheme fine print (who gets what, tender calendar); early gains consolidate.

30 Sept, 16:39 IST · Market event · high impact

Cabinet approves Green Energy Corridor Phase-III scheme

The government approved new power lines to carry 135 GW of solar and wind power, so grid builders and green power firms gain more business, with no clear losers for now.

PowerInfrastructure

Who it hits first

  • The Cabinet approved Green Energy Corridor Phase-III to strengthen state power lines so up to 135 GW of solar and wind power can flow to buyers.
  • Power Grid Corporation, India's national power-line operator, gets the clearest demand boost because it builds and runs much of this grid.
  • Adani Green Energy, a large solar and wind power producer, and Tata Power Company, a power maker and city power supplier, gain because less green power gets stuck for want of lines.
  • Makers of grid gear such as Siemens, ABB and CG Power, which already supply Power Grid and Tata Power, see a bigger order pipeline.

Who may gain

  • Power Grid Corporation (national grid operator) — first call for planning and building the new lines.
  • Adani Energy Solutions (private transmission builder) — more state-line tenders to bid for.
  • Green power producers Adani Green Energy, Tata Power, NTPC Green Energy and Acme Solar — faster project hook-ups and less wasted power.
  • Equipment makers Siemens, ABB, CG Power, Apar Industries and KEI — transformers, switchgear and cables for the build.

Along the supply chain

Downstream

Downstream, steadier green power flows to state distributors and big users; Tata Power already supplies power to Tata Steel, so its steel customer gets more reliable clean supply as bottlenecks ease.

Upstream

Upstream, gear suppliers to Power Grid and Tata Power — Siemens, ABB, CG Power, Bharat Heavy Electricals, Apar Industries (cables), KEI (cables), Skipper and Salasar (towers) — get fresh demand for transformers, switchgear, wires and steel structures.

Where demand moves

Business

State power companies order new lines and substations; transmission builders book the work, equipment makers supply gear, and solar and wind farms sell more hours of power once evacuation improves.

Capital

Investors bid up transmission and green-power shares on stronger order visibility, while lenders such as REC, which already funds Power Grid, Adani Green and Tata Power, see a larger loan pipeline.

How it spreads across sectors

Capital Goods

Second-order orders — transformer, cable and tower makers ride the new spending.

Infrastructure

Construction uplift — line-building and substation work flows to contractors.

Power

Direct lift — grid owners and green generators gain orders and output.

A pattern seen before

Cascade chain

  • Cabinet nod for 135 GW RE evacuation → intra-state transmission tenders
  • Transmission tenders → orders for Power Grid and Adani Energy Solutions
  • Grid build → transformers, cables and towers from Siemens, ABB, CG Power and KEI
  • Stronger evacuation → faster solar and wind commissioning for Adani Green, Tata Power and NTPC Green

Pattern name

Energy Transition Cascade

Patterns

  • Energy Transition Cascade

Sectors queried

  • Auto
  • Oil & Gas

When it plays out

Immediate

Transmission and green-power shares react on the approval; Power Grid and Adani Energy Solutions lead.

Medium term

State awards and commissioning progress decide who converts the 135 GW plan into revenue.

Short term

Tender talk and brokerage notes size the order pipeline; equipment makers start to move.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

23 Jun 2026unspecified₹2.5
20 Jun 2025unspecified₹2.25
4 Jul 2024unspecified₹2
7 Jun 2023unspecified₹2
15 Jun 2022unspecified₹1.75
17 Jun 2021unspecified₹1.55
14 Jul 2020unspecified₹1.55
4 Jun 2019unspecified₹1.3

Splits, bonuses & buybacks

  • daily-prices repair: 9 rows from NSE's archive (replace 1, delete 1, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016

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