Power stocks in India
45 listed companies in Power, part of Utilities, largest first by market cap at the close on 27 Oct 2026; the largest is Adani Power.
- CompaniesListed companies. Companies classified in Power whose shares traded on the latest trading day.
- 45
- Market capMarket cap, added up. The market value of the 41 companies that filed the quarter to Jun 2026, added up: each company's share price today times its shares. Share price times the number of shares: what the whole company is worth at the day's price.
- ₹18,20,406 Cr
- Median P/EMedian price to earnings. The middle price-to-earnings among the 30 companies that filed the quarter to Jun 2026 that carry one, half above and half below: each company's market value today divided by its own last four quarters' profit.
- 17.4
- Median P/BMedian price to book. The middle price-to-book among the 37 companies that filed the quarter to Jun 2026 that carry one, half above and half below. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet.
- 1.4
- Revenue growthRevenue growth, against a year earlier. Revenue of the quarter to Jun 2026 against the same quarter a year earlier, added up over the 37 companies that filed both.
- +12.6%quarter to Jun 2026
- ProfitProfit after tax, added up. Profit after tax of the quarter to Jun 2026, added up over the 42 companies that filed it; a loss counts as negative.
- ₹24,721 Crquarter to Jun 2026
- Filed the quarterCompanies that filed the quarter. How many of the sector's 45 listed companies have filed results for the quarter to Jun 2026; the revenue growth and the profit are theirs.
- 42of 45
- Median ROCEMedian return on capital employed. The middle figure of the 44 companies' ROCE for the year to Mar 2026, half above and half below. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them.
- 4.6%year to Mar 2026
Revenue growth and profit by quarter
Revenue against the same quarter a year earlier, over the companies that filed both; profit after tax added up over the companies that filed the quarter. A quarter fewer than 60% of the sector filed is left out, and the newest is added once nearly as many companies have filed it as the one before.
Revenue against the same quarter a year earlier, per cent
Profit after tax, ₹ crore, added up over the companies that filed
The largest companies
The 12 largest Power companies, each sized by its market cap.
Market cap, ₹ crore
- Adani Power₹3,63,883 Cr
- NTPC₹2,92,645 Cr
- Power Grid Corporation of India₹2,34,143 Cr
- Adani Green Energy₹2,12,321 Cr
- Adani Energy Solutions₹1,60,403 Cr
- Tata Power Company₹1,08,354 Cr
- JSW Energy₹86,110 Cr
- NHPC₹73,530 Cr
- NTPC Green Energy₹70,048 Cr
- Torrent Power₹59,446 Cr
- NLC India₹31,948 Cr
- Acme Solar Holdings₹29,410 Cr
Every Power company
About power stocks in India
Power stocks in India are the listed companies that generate, transmit, distribute and trade electricity, renewable generators included. NSE's industry classification calls this the Power sector, part of Utilities, and this page ranks those companies by market cap.
What the sector covers
Generators run thermal, hydro, nuclear, solar and wind plants and sell the electricity. Transmission companies own the high-voltage grid that carries it between states. Distribution companies, called discoms, deliver it to homes, farms and factories and bill the consumer. Some listed companies do more than one of these.
The classification has three basic industries here: electric utilities, which produce and distribute power; power trading; and transmission and distribution. All three sit in one industry, Power, so the page has no industry filter.
The Nifty Power index tracks the sector. It takes every stock from the eligible power industries in the Nifty Total Market, weights them by free-float market cap (the shares that can actually trade) and caps any single stock at 20%. Its base date is 1 Apr 2005.
How the industry is regulated
The Electricity Act, 2003 split the industry into generation, transmission and distribution. Generation needs no licence, though a hydro project above a cost limit set by the government needs the Central Electricity Authority's concurrence. Transmission and distribution are licensed. The Central Electricity Regulatory Commission handles sale and transmission between states, and each state's commission handles matters inside the state, including retail tariffs.
A regulated business earns a return the regulator allows on its approved asset base, so its profit follows the size of its assets more than the price of power on any one day. Most discoms are owned by state governments.
What drives power businesses
Demand follows industrial activity, cooling load in summer and the number of connected households. Costs depend on the fuel: coal for thermal plants, none for solar and wind. Many generators sell under long-term power purchase agreements, which fix a tariff for years and tie earnings to plant availability and to whether the buyer pays on time.
Capacity is moving towards non-fossil sources. India's non-fossil installed capacity passed 300 GW on 31 Jul 2026, about 54% of roughly 552 GW in total, and the government's goal for 2030 is 500 GW.