Axis Direct has turned bullish on three heavyweight power utilities after they posted solid June‑quarter results. The brokerage kept its 'Buy' rating on NTPC, JSW Energy and Skipper Ltd, and set target prices of ₹420, ₹605 and ₹630 respectively. Their optimism comes as the Nifty Power index has been gaining momentum, reflecting broader investor interest in the sector’s growth story. The note points to strong capacity expansion plans across the three firms.
NTPC, the country’s largest central power generator, is adding several gigawatts of coal and renewable capacity, while its order book remains robust, supporting earnings visibility. JSW Energy, with a diversified mix of thermal and renewable assets, is seeing higher utilisation rates and a growing backlog of power purchase agreements. Skipper, a key player in hydro and renewable generation, is benefitting from new projects and favourable tariff revisions, which the broker says should translate into higher profit margins. For the retail investor, the three stocks offer a blend of stable cash flows and upside potential as India pushes for energy security and a greener mix.
However, Axis Direct cautions that commodity price volatility, regulatory changes and financing costs could temper performance. Investors should weigh these factors against the sector’s long‑term demand trajectory. Overall, the recommendation aligns with a broader market view that power stocks could outperform as the government’s infrastructure push gains pace, making NTPC, JSW Energy and Skipper attractive additions for portfolios seeking exposure to India’s growing energy needs.