Power stocks extend gain as demand seen rising; Tata Power up 26% in a week

The rating agency ICRA has revised energy demand growth outlook upwards from 8 per cent to 8.5 per cent for 2021-22

Shares of power companies continued to march higher with the S&P BSE Power index hitting a fresh 10-year high on Tuesday on strong demand outlook. At 10:00 am; the S&P BSE Power index was up 1.5 per cent, when compared to 0.21 per cent decline in the S&P BSE Sensex.

The power index hit an intra-day high of 3,345.64, its highest level since October 2010. It had hit a record high of 4,929.34 on January 8, 2008 on the BSE, the exchange data shows. Tata Power, Adani Transmission, Adani Green Energy, Adani Power and CESC from the power index