Shares of CESC, Transformers & Rectifiers, RR Kabel, PG Electroplast, and TD Power Systems were trading higher on Monday, 5 October, with gains of up to 8%. According to reports from LiveMint, CESC rose around 4%, Transformers & Rectifiers gained 6%, RR Kabel advanced 5.2%, PG Electroplast climbed 4%, while TD Power Systems jumped nearly 8%. The broader market also provided a tailwind, with Indian equities rebounding after the Nifty 50 posted its longest weekly losing streak in 25 years, helped by softer crude oil prices and reduced expectations of aggressive US Federal Reserve tightening.
India's electricity demand is set to rise 6.4% annually through 2030, adding over 570 TWh of annual consumption as factories, data centres and industrial projects multiply. According to the International Energy Agency (IEA), peak demand has increased from 162 GW in 2017 to 250 GW in 2024, with industry making up for a third of the increase. The challenge becomes more complex as much of the new generation will come from solar and wind, which are not necessarily located where demand is growing. The IEA expects varying renewable energy generation to make up 24% of India's total generation by 2030, up from 14% in 2025. This manufacturing investment cycle requires significant infrastructure build-out, creating opportunities for companies supplying both generation equipment and transmission infrastructure.
According to Sunny Agrawal, Deputy Vice President - Fundamental Research at SBI Securities, TD Power Systems has emerged as one of the stronger momentum counters in the space. As reported by LiveMint, the brokerage remains positive on the stock, supported by its robust order book, upgraded growth guidance from management and strong export demand. In Q1 FY27, TD Power received ₹734.1 crore of orders, up 87% year-on-year, with 93% coming from exports and deemed exports. The company's order book stood at ₹2,207 crore at the end of June, of which 69.5% was exports and deemed exports. Orders during the quarter included generators for steel, cement and sugar plants, captive power projects, hydro, waste-heat applications and gas engines. The company plans to invest around ₹50 crore in FY27 towards debottlenecking, automation and efficiency enhancement, with these initiatives expected to support revenue capacity expansion to nearly ₹3,200 crore by FY28.
According to The Financial Express, APAR Industries is positioned as a key player in India's transmission infrastructure build-out. In Q1 FY27, the company's conductor business generated ₹3,338 crore of revenue, up 19.9% year-on-year, with its pending order book standing at ₹10,190 crore, of which 56.8% are exports. The company received new orders exceeding ₹5,000 crore during the quarter, with 65.8% being exports. APAR's cables business also performed strongly, generating ₹1,838 crore of revenue, up 29.5% year-on-year, with the pending order book reaching ₹1,925 crore. The company's oil business showed exceptional growth with revenue rising 34.7% to ₹1,701 crore, while EBITDA jumped from ₹105 crore to ₹329 crore, taking the operating margin from 8.3% to 19.3%.
According to Rajesh Bhosale, Technical Analyst at My Advisor Alpha, the overall power and electrical space remains technically positive, with most stocks maintaining higher-top, higher-bottom formations and trading above key moving averages. As reported by LiveMint, Transformers & Rectifiers, TD Power Systems and RR Kabel appear relatively stronger, showing better momentum and relative strength. Bhosale noted that the overall theme remains favourable, with investors likely to favour stocks that show sustained momentum and follow-through after breakouts. PG Electroplast also remains positive, although it is comparatively more volatile, while CESC continues to remain in a broader consolidation phase. The broader wires and cables segment continues to attract investor interest, with RR Kabel among the stronger performers, as reported by SBI Securities, supported by robust industrial and infrastructure demand.
