Rakesh Arora of Macquarie Capital Securities told CNBC-TV18, "Power is seeing a lot of initiatives from the government, which the market does not seem to be appreciating and one of the reasons is that power demand has slowed down quite a bit. It is true that economy is making an impact but it is also true that some of those restructuring, which state electricity boards (SEBs) have gone through has not resulted in money flowing back to SEBs."
"This anomaly should correct in the next few months and NTPC clearly looks the top pick to us in this space but somebody looking for high beta can look at Tata Power or Adani Power to play out those CERC orders, which are due," he said. "I think power space is looking decent in terms of valuations etc and there would be catalyst in the run up to the elections in the sector when power demand picks up."Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
