Business
India's power utilities rise as Investec sees long-term demand strength
India's power utilities rise as Investec sees long-term demand strength
About this update from Cesc Ltd
** Shares of Indian power utilities rise between 0.3% and 2%** Investec reaffirms its positive stance on the Indian power utilities sector** Believes recent "short-term demand swings are cyclical and temporary, and long-term outlook remains strong as connectivity improves and consumption rises** Says recent decline in stock prices of JSW Energy NSE:JSWENERGY, CESC NSE:CESC, NTPC NSE:NTPC, Inox Wind (INOX.NS) and Kalpataru Projects NSE:KPIL provide attractive entry opportunities; maintains "buy" rating on these stocks** Forecasts India's power demand to grow at a CAGR of 5.3% from FY25 to FY32, reaching 367 GW, driven by urbanisation and rising temperatures** India's plan to add approximately 250 GW of new capacity by FY30, which will require significant capital expenditure in transmission - Investec