Athira Sethu
Kochi, 1 Oct 2026
Stocks of companies related to power and electricity-related infrastructure of India gained focus on Thursday, October 1. Shares of firms like Power Grid Corporation of India, Adani Energy Solutions, GE Vernova T&D India, Hitachi Energy India, and CG Power and Industrial Solutions became hot topics following the launch of a new scheme by the government in the power sector.
The Union Cabinet approved the PM-DHARA Scheme, whose total investment amounts to approximately ₹1.86 lakh crore. The scheme aims to enhance the Indian power transmission system and allow easier access to renewable energy from the power generation project sites to other places that need it.
One of the major focuses of the scheme is to enable the transmission of up to 135 GW of renewable energy. In addition, the government aims to install 50 GWh of battery energy storage systems (BESS). Batteries play an essential role since renewable sources like solar and wind don’t generate energy continually. Solar energy is not available when there is no sun, while wind energy depends on wind availability.
₹1.36 lakh crore would be spent on developing and improving intra-state transmission networks. There is also ₹50,000 crore allocated for battery storage. The government would provide funding of about ₹54,082 crore under the scheme.
This program would increase the demand for transformers, substations, transmission, grids, and battery storages. This is why many power and electrical equipment companies are in focus of investors.
Such companies as Power Grid, Adani Energy Solutions, GE Vernova T&D India, Hitachi Energy India, CG Power and Transformers & Rectifiers India would get profits from transmission project development. Also, renewable energy companies like KPI Green Energy, Suzlon Energy, and Waaree Energies might profit from increased transmission capacity.
Also, battery manufacturers like Exide Industries and Amara Raja Energy & Mobility become relevant owing to the huge investment proposed for energy storage.
On October 1, several relevant stocks experienced growth. Thus, Transformers & Rectifiers India grew up to almost 10%, GE Vernova T&D India increased its value by about 2.5%, Adani Energy Solutions grew up to more than 5%, Hitachi Energy India experienced growth by about 2.4%, and CG Power grew up to about 3.3%. However, Power Grid experienced a decline by about 1.4%.
The scheme is supposed to be introduced until FY 2032-33. The scheme is expected to help improve India’s energy grid, promote renewable energy development, generate jobs, and improve energy security in the long term. Nevertheless, the real benefit from it may differ depending on the projects received by companies.
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