BSE Power index hits over 14-year high; Adani Power zooms 64% in 8 days

India's power consumption has grown steadily at 4.6% YoY in March to 126.12 billion units, showing the impact of early onset of summers and easing of lockdown restrictions by states.

Shares of power generation and its related companies were in focus on Friday as the S&P BSE Power index hit over 14-year high in the intra-day trade, on expectation that improved demand will spur earnings growth of the sector.

Adani Power, Bharat Heavy Electricals (BHEL) and NTPC from the index rallied between 5 per cent to 10 per cent, while Power Grid Corporation, Tata Power, Torrent Power and JSW Energy advanced in the range of 2 per cent to 4 per cent on the BSE.

The S&P BSE Power index, one of the top sectoral gainers,