Best Energy Stocks In India | Top Power Stocks In India 2023.
The Energy sector is boosting up Indian economy in recent years, and many investors are willing to buy energy sector stocks for its vast opportunities in the country. India is the second-largest power-consuming country and the third-largest power-generation country in the world. So, investors want to take advantage of the energy sector.
Due to the larger market demand, the energy sector can have stable growth over the period of time and be able to give a good dividend yield in the future. Let’s see the best power stocks to buy in India in 2023.
Indian Power Sector Overview and Growth
The power sector has an important role in the Indian economy, this whole sector has 7% of GDP growth with over 2 million jobs. The Indian power sector is expected to grow up to 10% annually within 5 years of span.
Also, India is the second-largest populated country and the third-largest economic country, so there will be a huge demand in the power sector, as well as it can create wide opportunities in the future.
Best Energy Stocks In India 2023
Here are the top 6 companies of best energy stock you should look into in 2023.
Adani Power
Adani Power is the leading power generation and distribution company in India. The company has a total power generation capacity of 13,650MW, also company has a wide range of power projects like renewable energy, solar, and thermal power plants.
| Market Cap | Rs. 73,320Cr |
| ROE | 31.12% |
| EPS [TTM] | 26.26 |
| Dividend Yield | NA |
| P/E Ratio TTM | 7.24 |
| Industry P/E | 18.12 |
| Debt To Equity | 1.82 |
| P/B Ratio | 3.97 |
Reliance Power
Reliance Power Ltd is an Indian power company that mainly operated with developing, maintaining, and constructing power projects in Indian and international markets. The company has thermal and natural power projects across India. Reliance is a well-established company in the Indian power sector.
| Market Cap | Rs. 4,034Cr |
| ROE | 7.87% |
| EPS [TTM] | 4.12 |
| Dividend Yield | NA |
| P/E Ratio TTM | 135.85 |
| Industry P/E | 18.12 |
| Debt To Equity | 2.02 |
| P/B Ratio | 0.29 |
Torrent Power
Torrent Power Limited was established in 1996 and is headquartered in Ahmedabad. The company involves power generation, transmission, distribution, and manufacturing of power cables. The company has 4 thermal power plants, as well as it, has a strong distribution network in central India.
| Market Cap | Rs. 25,095Cr |
| ROE | 4.51% |
| EPS [TTM] | 24.56 |
| Dividend Yield | 2.15% |
| P/E Ratio TTM | 21.26 |
| Industry P/E | 13.02 |
| Debt To Equity | 0.96 |
| P/B Ratio | 2.52 |
JSW Energy
JSW is one of the leading power generation companies in India. The company has a total power generation capacity of 8,640 MW in thermal, and hydropower plants. It has 5 power production plants in Himachal Pradesh and Rajasthan. Also, the company involves in power transmission and wind energy projects.
| Market Cap | Rs. 41,500Cr |
| ROE | 10.83% |
| EPS [TTM] | 12.55 |
| Dividend Yield | 0.79% |
| P/E Ratio TTM | 20.15 |
| Industry P/E | 18.12 |
| Debt To Equity | 0.64 |
| P/B Ratio | 2.38 |
Tata Power Company
Tata Power Company is one of the leading power generation companies in India, the company has a wide range of products portfolio with a total energy production capacity of 14076 MW. The main business of Tata Power Ltd is generating, transmitting, and distributing electricity.
The company has a strong track record with over 100 years of experience, also it has various power projects like thermal, wind, solar, and hydropower plants.
| Market Cap | Rs. 62,181Cr |
| ROE | 9.74% |
| EPS [TTM] | 11.18 |
| Dividend Yield | 0.90% |
| P/E Ratio TTM | 20.28 |
| Industry P/E | 13.02 |
| Debt To Equity | 2.07 |
| P/B Ratio | 2.77 |
Power Grid Corporation
Power Grid Corporation is the leading power distribution company in India, the company has a strong distribution network in 10 states with a distance of 16,000Km of lines. Power Grid Corporation has a customer base of over 20 million connections.
| Market Cap | Rs. 1,57,401Cr |
| ROE | 23.02% |
| EPS [TTM] | 21.87 |
| Dividend Yield | 5.43% |
| P/E Ratio TTM | 10.32 |
| Industry P/E | 13.02 |
| Debt To Equity | 1.59 |
| P/B Ratio | 2.06 |
NTPC Limited
NTPC Limited is the oldest and the biggest energy-integrated company in India. the company has a total capacity of 70GW and is trying to expand its capacity up to 130GW in the next 10 years. NTPC Limited has a 27% of market share in the Indian power industry. The company has various power generation projects like coal stations, coal mines, gas stations, and renewable energy projects.
| Market Cap | Rs. 77Cr |
| ROE | 1.94% |
| EPS [TTM] | 1.40 |
| Dividend Yield | 0.84% |
| P/E Ratio TTM | 8.52 |
| Industry P/E | NA |
| Debt To Equity | 0.50 |
| P/B Ratio | 0.67 |
Future Of The Indian Power Industry
The Indian Power Industry has a bright future due to the country’s power demand because India is the third largest power-consuming country in the world. Sustained economic growth and development projects will drive the energy sector in the future.
The expanding developments in industrialization and urbanization will drive energy demand higher in the future and it’s expected up to 405 GW by 2030.
Conclusion
India is the largest power production and consuming country and it has the world’s biggest coal mining also. The power sector has stable growth in the future due to its high demand. So, here is the list of India’s Best Power stocks in 2023.
Which is the largest power generation company in India?
Adani Power Ltd is the largest private power generation company in India
Is power sector stocks good for long-term investment?
Yes, you can see good results in power sector stocks in long-term investment.
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