Power stocks to watch on October 16 come off a split session. On Thursday, October 15, the Sensex weekly expiry day, the Nifty Energy index closed at 36,213.70, down 289.80 points or 0.79% from 36,503.50, going by NSE all-indices data. In the same session the Nifty 50 gained 1.66% to 22,997.35. Utilities and power-equipment stocks mostly missed that large-cap relief rally, even though Nifty Oil & Gas rose 1.41% to 10,604.60. For Friday’s levels, see our Nifty outlook for October 16.
Power stocks to watch October 16: where Thursday left them
Generators and transmission companies held up better than the equipment makers. The closing prices below come from the OI Charts Nifty Energy constituent list for the October 15 session. We cross-checked NTPC against Moneycontrol, which also showed it up 0.30% at about ₹314.65:
| Stock | Oct 15 close (₹) | Change |
|---|---|---|
| Adani Power | 196.50 | +0.69% |
| Power Grid | 249.85 | +0.36% |
| NTPC | 314.65 | +0.30% |
| Torrent Power | 1,238.60 | −0.14% |
| Tata Power | 349.80 | −0.91% |
| NHPC | 72.70 | −1.38% |
| JSW Energy | 478.95 | −2.31% |
| CG Power | 818.00 | −5.21% |
| Hitachi Energy India | 28,770.00 | −5.33% |
| GE Vernova T&D | 3,949.00 | −5.75% |
| BHEL | 434.25 | −6.41% |
On Thursday, Nifty Energy moved between 36,023.25 and 36,376.65. It is still 13.42% below its 52-week high of 41,828.55 and 10.10% above its 52-week low of 32,890.30 (our calculations from the NSE figures).
Why utilities sat out the expiry-day rally
CNBC-TV18’s October 16 trade setup said large caps drove Thursday’s move while breadth stayed weak. It also named GE Vernova T&D, Hitachi Energy India and CG Power among the AI-linked names that faced profit-booking through the week. That lines up with the −5% to −6% drops in those three, and in BHEL, on the Nifty Energy board.
For the generators, the operating news going into Q2 results season is still constructive. Kalkine’s utilities note cites NTPC’s October 1 update: generation of 117.9 billion units in July–September, roughly 13% more than the 104.4 billion units a year earlier, and coal dispatch of 11.899 million tonnes against 9.260 million tonnes. Power Grid was declared the successful bidder on 25–26 September for an inter-state transmission scheme in Maharashtra, with quoted annual transmission charges of ₹430.67 crore. The same note says that was its ninth competitive-bidding win this financial year.
An October 7 Prabhudas Lilladher power preview pegged all-India peak demand for Q2FY27 at around 270 GW (+11% year-on-year) and energy consumption at around 501 billion units (+12%), with day-ahead market prices back to about ₹5.9/kWh (+59% YoY). These are brokerage estimates, not exchange prints, so treat them as background for the sector story and not as trade levels for Friday.
Friday’s setup after expiry
With expiry out of the way, there is less Sensex options noise to deal with and more Q2 news to react to. CNBC-TV18 lists Wipro, Tech Mahindra and Federal Bank among the earnings names in focus on Friday; most power utilities are still in the window before their September-quarter numbers come out. On the index, the 23,000 zone is the upside marker for Nifty, with near support at 22,650–22,600 after Thursday’s 22,997.35 close. India VIX eased 4.58% to 13.96 on NSE data, which points to a softer options-premium backdrop for stock-specific trades.
So for Friday, the practical watchlist is NTPC and Power Grid for the stability of regulated cash flows, Tata Power and Adani Power for integrated and generation beta, and CG Power or Hitachi Energy only if the global AI-equipment sell-off cools. Live quotes and sector moves are on our Stock Market Today India hub, and if crude and energy themes are moving together, read this alongside the same-day aviation stocks to watch October 16 note.
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