Key Points
FPIs sold power sector stocks to the tune of Rs 2,869 crore and Rs 2,952 crore in October and November, respectively after a massive Rs 9,731 crore selloff in September..
Although, they re-entered the sector in December to buy shares worth Rs 1,051 crore.Agencies..
While the big boys of Indian markets - foreign portfolio investors - ploughed in Rs 50,588 crore in the recently concluded December quarter, not every sector was lucky enough to get a share of the pie..
Strong capex cycle, industrial and economic growth, shift towards clean energy along with rising demand for power and various government reforms, such as cleaning up of the balance sheets of DISCOMS and increase in power tariffs, have resulted in re-rating of the sector, which was otherwise stuck in a long phase of consolidation...
On the flip side, Kranthi Bathini of Wealthmills Securities said the rally has much more legs and there is further headroom for the power stocks going ahead.. "Given earnings visibility for the stocks, the sector still looks interesting..
