GE Vernova, Siemens Energy, Hitachi: Power equipment makers surge up to 13%; why are stocks rallying despite weak market?

Power transmission equipment makers and related firms like GE Vernova, Siemens Energy India, Hitachi Energy, ABB India, and TD Power Systems were among several others which surged up to 13% during the trading session on Friday, November 13, despite an overall profit-booking sentiment and a weak market.

After consistent foreign investor inflows into the Indian market in the first 12 days of November, the benchmark indices are witnessing their first session of a sticky intraday decline during Friday’s market amid weak global cues.

BSE data showed that the benchmark BSE Power index surged 1.3% despite a weak market to hit an intraday high of 7,281.61 points on Friday’s market, in comparison to 7,187.86 points at the previous equity market close.

Similarly, the NIFTY equivalent, NIFTY Energy index, gained 0.9% to hit an intraday high of 37,729.20 points during the trading session on November 13, in comparison to 37,389.10 points at the previous stock market close.

Stocks like Hitachi Energy India, Siemens Energy India, GE Vernova India, and TD Power Systems were leading the pack of gainers on Friday’s market.

Equity market investors were focused on the healthy Q2 earnings performance from the companies at a time when the central government has approved plans for a high-capacity transmission corridor, which will potentially boost the revenues of these equipment makers in the upcoming period.

Power stocks in focus today

India’s power transmission corridor plan

According to a Reuters report, the National Committee on Transmission (NCT) approved plans to set up a high-capacity power transmission corridor project to connect key power generation hubs in Gujarat and Rajasthan to urban demand centres in the Eastern part of the country.

As part of the approval, a 1,150-kilovolt (kV) transmission project worth around ₹68,816 crore is set to connect the renewable energy hubs to the industrial demand centres. The whole project is estimated to be completed in the next six years.

This key development will reportedly allow much larger volumes ​of electricity nationwide than the present 765-kV lines, according to the minutes of the meeting cited in the media report.

With a major transmission project like this, the centre will need major equipment support from the domestic power transmission equipment manufacturers in the market, which in turn will likely power further order book inflows and boost revenue gains.

As per the report, the 1,150-kilovolt (kV) transmission project will connect the western energy hubs with the demand centres in the eastern industrial area such as Odisha.

The first phase of the project will link states like Chhattisgarh, Odisha, and West Bengal, connecting with a 6,000-megawatt high-voltage transmission system carrying renewable power from ​Rajasthan's Bhadla solar region.

Strong Q2 show

Friday’s rally in stocks also comes at a time when TD Power and Hitachi Energy both posted strong earnings performance in the July to September quarter results for FY27. So the overall momentum arising from the quarterly performance and the centre’s latest project approval adds to the sentiment for the sector.

NSE filings showed that Hitachi Energy posted a 20.5% year-on-year (YoY) surge in its profit after tax (PAT) to ₹318.49 crore, from ₹264.36 crore in the same period a year ago. The company’s topline revenue growth was 63.5% YoY to ₹2,996.5 crore during the quarter under review, as against ₹1,832.6 crore in the second quarter a year ago.

The order book increased 85.9% YoY to ₹4,120.8 crore as of the quarter ended September 30, 2026.

Experts cited strong order inflows and strong execution in Q2 FY27 behind the company’s healthy financial performance in the period. Key focus now remains on the upcomign demand visibility in the sector supported by renewable energy additions, grid modernisation and transmission expansion projects.

In case of TD Power Systems, the company reported a 105.5% surge in its consolidated profits to ₹123.74 crore in the July-September quarter of FY27. The management said that the company’s order inflow is very strong with the pipeline extremely buoyant across all segments.

The management also upgraded its final FY27 revenue guidance between ₹2,900 and ₹3,000 crore, against the backdrop of strong quarterly performance in the latest results.