Adani Power hits all-time high, JSW Energy & other power stocks also trade higher as summer approaches; what analysts said

Adani Power shares jumped 5% to hit an all-time high of ₹184.4 apiece while other power company stocks were also trading higher on Monday, April 13. The rise comes as investors turn confident amid rising power demand ahead of peak summer.

Shares of power and energy firms saw broad-based buying interest, with several stocks advancing during the session. Reliance Power led the gains, rising 8.64% to an intraday high of ₹27.39, followed by JSW Energy, which climbed 5% to ₹511.60. Tata Power also moved higher, gaining 4.4% to touch ₹417 per share.

Among other gainers, NTPC rose 2.6% to ₹388, while Suzlon Energy added 2.4% to ₹46.41. Siemens Energy India advanced 2.54% to ₹2,885, and SJVN edged up 2% to ₹73.35 during the session.

According to media reports, India’s power demand grew a modest 1.7% in March to 149 billion units (BU), up from 147 BU in the same month last year. This was the highest March consumption since 2010. For 2025-26 (FY26), growth was a marginal 0.9%.

India's summer season falls between March and May of every year.

The demand for power stocks is rising amid the demand for energy in India due to an expected upcoming hot summer; the ongoing LPG crisis, which has prompted people in the country to use electric induction ovens and other home appliances; and the broader West Asia crisis, which has disrupted the global flow of natural gas and crude oil.

India defers thermal power plants maintenance shutdowns

Last week, the Ministry of Power had said India will defer maintenance shutdowns at thermal power plants and operationalise additional capacity to ensure around 10,000 MW of extra supply during peak summer demand.

Power plants have to annually take a shutdown for maintenance and repair of wear-and-tear in the machinery, but this has been postponed to make available electricity to meet peak demand, said Piyush Singh, Additional Secretary in the Ministry of Power, at a media briefing.

This will help augment 10,000 megawatts (MW) of generation, which will more than compensate for the 8,000 MW of generating capacity lost because of disruption in liquefied natural gas (LNG) supplies due to the war in West Asia, he said.

Also, imported coal-based plants are being fully operationalised, and adequate coal stocks are being maintained at thermal stations to address near-term supply pressures.

India's electricity system remains "robust, well-diversified and adequately positioned" to meet demand, he said, adding that the country's installed capacity has crossed 531 gigawatts.

Ministry of Power data released on March 16 showed that India has a total installed power generation capacity of 520,511 megawatts, and since the financial year 2014-15, the government has been working to transform India “from power deficit to power sufficient".

According to the latest figures from the ministry, India’s energy requirement for FY2025-26 up to February 2026 is 1,559,936 MW, while the energy supplied has been nearly at par at 1,559,482 MW.

Here’ what analysts said

The analysts also highlighted that the Ministry of Power expects peak electricity demand to increase 10% year-on-year to 270 GW in FY27E.

They added that the policy focus is on accelerating thermal and nuclear capacity alongside strengthening renewables, storage, and grid infrastructure. According to the analysts, the most compelling opportunities lie in thermal, nuclear, storage, and grid-linked companies, rather than in pure-play renewable energy names alone.