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High-voltage power stocks cool after strong 2026 rally
High-voltage transmission and distribution equipment shares had been boosted year-to-date by double-digit gains, outpacing the BSE Capital Goods Index’s 10% increase, before a valuation-driven pullback.
LiveMint Markets reports that AI-driven capital goods gains in high-voltage transmission and distribution equipment stocks have paused after a sharp run in 2026, with investors reportedly booking profits due to concerns about elevated valuations.
The outlet says that year-to-date, Hitachi Energy India shares are up 66%, GE Vernova T&D India is up 34%, Siemens Energy India is up 23%, and CG Power and Industrial Solutions is up 35%, compared with the BSE Capital Goods Index’s 10% gain over the same period.
LiveMint Markets also links the sector’s earlier rally to investor interest in a widening global supply-demand gap for high-voltage power equipment such as transformers, switchgear, and circuit breakers, alongside multi-year order pipelines in domestic and international markets.
The outlet notes that broader markets have been affected by escalating geopolitical tensions, but the high-voltage power equipment segment has continued to attract attention even as the recent price correction is seen as easing some valuation concerns, according to 360 ONE Capital Markets.