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Power and gas utility companies such as NTPC, Power Grid Corporation, Gail (India), Mahanagar Gas, Indraprastha Gas, and Petronet LNG are outperforming the broader market after years of underperformance.
The Business Standard Utility Index, which tracks the market capitalisation of the country’s top 16 utilities, is up 13.2 per cent since the beginning of this calendar year against a 4.8 per cent rise in the Sensex during the period.
The sector, however, remains a big laggard on a one-year and five-year basis.
Private sector power utilities such as Tata Power, Torrent Power, JSW Energy, Adani Power and Adani Transmission have been the top
