Several power sector stocks touched fresh 52-week highs on Monday, with investors rotating into the sector as strong seasonal demand, weak monsoon forecasts and steady earnings visibility make it one of the few bright spots in an otherwise uncertain market. Adani Power, NTPC Limited, Power Finance Corporation, Bharat Heavy Electricals Limited, Tata Power, Hitachi Energy India, Siemens India, Thermax and Torrent Power all hit intraday highs on the Bombay Stock Exchange (BSE) on 20 April. According to Kotak Neo, this defensive shift comes as investors lean towards safety and focus on companies offering strong earnings visibility.
PNB Housing Finance receives an Overweight rating from Morgan Stanley with a target price of ₹1,160. Mahindra & Mahindra maintains a Buy rating from Nomura with a target price of ₹4,662, while Bank of Maharashtra gets a Buy rating from HDFC Securities with a target of ₹90. Mastek also receives a Buy rating from HDFC Securities with a target price of ₹2,250.
Indian Energy Exchange (IEX) receives an Accumulate rating from Elara Capital with a target price of ₹145. Antem Biosciences gets a Buy rating from Citi with a target price of ₹870, marking Citi's initiation of coverage on the stock. These recommendations reflect strong visibility in the energy and specialty biotechnology sectors.
The cement sector shows mixed recommendations from Emkay Global. ACC receives a Sell rating with a target price of ₹1,200, while Ambuja Cements gets an Add rating with a target of ₹475. JK Cement maintains a Buy rating with a target of ₹6,000, and Shree Cement receives a Buy rating with a target of ₹29,000. JSW Cement gets a Reduce rating with a target of ₹115, and UltraTech Cement maintains a Buy rating with a target of ₹13,000.
According to reports from ET Now, analysts are focusing on banking, auto, cement, and specialty stocks where visibility of growth remains strong. The recommendations emphasize a selective, fundamentals-driven strategy for better portfolio returns. Some overvalued or cyclical names face caution from brokerages, indicating a measured approach to current market conditions. JM Financial notes that NTPC Limited, JSW Energy, CESC Limited, Adani Green Energy and Suzlon Energy are well-positioned for the current market environment.
