# Why a Brokerage Sees Strong Upside in India's Power Pack as Peak Demand Tops 270 GW

> With India's power demand hitting new highs, HDFC Institutional Equities has turned positive on several power stocks including NTPC, CESC, Tata Power, NHPC and JSW Energy, setting fresh target prices for each.

**Type:** article · **Category:** Market · **Published:** 2026-06-24 · **Source:** TrendKia
**Canonical:** https://trendkia.com/en/market/bijali-ki-rikorda-manga-ke-bicha-pavara-sheyaron-para-brokareja-ka-bharosa-ina-pancha-stoksa-men-dikha-dama-2717 · **Language:** English
**Tags:** Power stocks, NTPC, Tata Power, JSW Energy, Power demand, Brokerage rating, Target price, NHPC

India's power sector is in the middle of a structural shift, moving away from a model built purely on adding volume and capacity toward one focused on assured, reliable supply. With power demand expected to climb sharply in the years ahead, stocks like NTPC, CESC, Tata Power, NHPC and JSW Energy are seen carrying strong growth potential, according to an HDFC Institutional Equities report.

Peak power demand in the country crossed 270 GW in May 2026, sharpening the need for assured or "firm" power delivery. Several power stocks still trade at attractive valuations, thanks to their ability to ride India's robust demand growth.

## NTPC Among the Top Picks
NTPC stands out as one of the most preferred names in the space, helped by its push into renewable energy and clear financial visibility. On the back of attractive valuations, the stock has been handed a target price of Rs 400 per share. At 2:17 pm, NTPC was trading 1.3% lower at Rs 359.95 on the BSE, with a market capitalisation of Rs 3,49,031.5 crore.

## Targets for CESC and Tata Power
CESC has been given a base-case target of Rs 210 and a bull-case target of Rs 221 per share. The stock was trading 0.73% lower at Rs 169.95 on the BSE, with a market cap of Rs 22,528.07 crore.

Tata Power earned a 'Buy' rating, with a base target of Rs 430 and a bull target of Rs 460 per share. At 2:30 pm, the stock was down 0.69% at Rs 395.55, carrying a market cap of Rs 1,26,391.66 crore.

## Power Grid Also Rated 'Buy'
HDFC Institutional Equities assigned a 'Buy' rating with a target of Rs 430 per share and a bull target of Rs 460. Power Grid was trading 0.10% lower at Rs 291.95 on the BSE, with a market cap of Rs 2,71,531.13 crore.

## JSW Energy and NHPC
JSW Energy too received a 'Buy' rating, with a bull-case target price of Rs 639 per share. At 2:34 pm, the stock was 0.99% lower at Rs 579.3, with a market cap of Rs 1,05,150.23 crore.

NHPC has been given a bull-case target of Rs 85 per share. Unlike the rest, this stock was trading 2.65% higher at Rs 79.89 on the BSE.

## What this means for you
**What it means for investors:**

- If you are eyeing the power sector, the brokerage's positive stance on names like NTPC (target Rs 400), Tata Power (Rs 430, bull Rs 460) and JSW Energy (bull Rs 639) points to their growth potential.
- Target prices are only estimates, so it makes sense to consult a licensed financial advisor and do your own checks before investing.

## Questions & Answers

### 1. Which brokerage has turned positive on these power stocks?
HDFC Institutional Equities has expressed a positive view on these power stocks in its report.

### 2. What is NTPC's target price?
NTPC has been given a target price of Rs 400 per share.

### 3. What target has been set for Tata Power?
Tata Power has a 'Buy' rating with a base target of Rs 430 and a bull target of Rs 460 per share.

### 4. What is JSW Energy's bull-case target?
JSW Energy received a 'Buy' rating with a bull-case target of Rs 639 per share.

### 5. How high did India's peak power demand reach in May 2026?
India's peak power demand crossed 270 GW in May 2026.

### 6. Which power stock was trading higher?
NHPC was trading 2.65% higher at Rs 79.89 on the BSE, with a bull-case target of Rs 85.

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