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The Economic Times
The Economic Times
Akash Podishetti

AI Powerplay! Proxy power stocks give up to 100% returns in India's hottest trade this year

India Kirloskar Oil Engines Hitachi Energy Paresh Bhagat GE Vernova TD India Oil Electricity Cummins India Hitachi Energy India NTPC

India's power and electrical equipment stocks have become one of the strongest proxy trades for the artificial intelligence boom this year, as investors look beyond software and chips to companies that can benefit from rising electricity demand.

The gains have been sharp. Hitachi Energy India has doubled investor money so far this year. Kirloskar Oil Engines is up 76%. GE Vernova T&D India has gained 40%, Voltamp Transformers has risen 38%, Siemens Energy India is up 28% and Cummins India has advanced 26%.

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