
Power capex stocks witnessed significant gains on Thursday, with CG Power, GE Vernova, TD Power, and Siemens rallying up to 5% following Nvidia's stellar Q2 results. According to latest reports, Nvidia reported a staggering 117% jump in data centre revenue year-on-year at $89 billion, alongside stellar 2028 guidance that boosted sentiment across the power equipment sector. TD Power shares jumped 5% to ₹765 per share, while GE Vernova TD India gained over 4% to ₹4,535. CG Power shares rose over 2% to ₹899 per share, and Siemens also rose over 2% to ₹4,137 per share. Hitachi India shares rose over 3% to ₹34,248 per share, with the company also expanding Korea's AI factory ecosystem through strategic partnerships with SK Telecom, NAVER and Brookfield.
Bharat Heavy Electricals (BHEL) shares surged 5% to ₹438 on the BSE in Thursday's intra-day trading, significantly outperforming the broader market. According to reports from Business Standard, the stock traded close to its record high of ₹446.75 touched on July 17, 2026. At 11:58 AM, BHEL traded 4.3% higher at ₹433.10, compared to a 0.28% decline in the BSE Sensex. The strong performance was driven by healthy demand revival in the power segment and improved execution pace, with the broader rally in power capex stocks benefiting from expectations of sustained AI infrastructure spending.
BHEL's order book rose sharply to ₹2.60 trillion by Q1FY27, primarily driven by large order wins in the power sector. As reported by Business Standard, order inflows increased to ₹26,700 crore in Q1FY27. The company's book-to-bill ratio improved materially to 7.1x in FY26 (FY25: 6.9x; FY24: 5.5x), providing revenue visibility over the medium term. The order book constituted 80.44% of the power segment while a smaller portion of 18.15% constituted industrial segment orders.
On August 11, 2026, India Ratings and Research (Ind-Ra) upgraded BHEL and its bank loan facilities' long-term rating to 'IND AA' from 'IND AA-', with a Stable Outlook, while affirming the short-term debt rating at 'IND A1+'. According to Business Standard, the rating upgrade reflected the significant increase in the company's execution pace during Q4FY26-Q1FY27, resulting in substantial revenue growth and enabling BHEL to generate above-Ind-Ra-estimated earnings before interest, taxes, depreciation, and amortization (EBITDA).
BHEL posted Q1FY27 profit after tax (PAT) of ₹400 crore versus loss of ₹460 crore year-on-year (YoY), marking profit in the first quarter by BHEL after eight financial years. As reported by Business Standard, the quarter witnessed a sharp pickup in execution with revenue coming in at ₹7,700 crore (40% YoY). The 202bps YoY improvement in gross margin (31%) indicates an increasing share of new orders in execution mix, which fetch higher realisation. EBITDA margin came in at 6.5% (1,634bps YoY) benefiting from operating leverage.
Brokerages remain bullish on BHEL post Q1 results, with analysts at JM Financial Institutional Securities maintaining a 'BUY' rating with an unchanged target price of ₹481 valuing the stock at 30x Sep'28E EPS. According to Business Standard, ICICI Securities expects revenue and PAT to grow at a compound annual growth rate (CAGR) of 30.5% and 90% over FY26-FY28E respectively. The brokerage firm believes margins are at the beginning of a structural upcycle, driven by operating leverage as execution accelerates on the ₹2.6 trillion order book.