Siemens Energy, CG Power, GE Vernova To Atlanta: Can THESE Energy Stocks Be D-Street’s Next Big Darlings?

Siemens Energy, CG Power, GE Vernova, Atlanta Electricals and other power stocks are set for a high-voltage run, as India's transmission and distribution (T&D) value chain gears up for a strong growth cycle. Backed by robust capex, a sharp uptick in order books, and improving revenue and margins, companies in the T&D space are well-positioned to benefit from sustained demand across both domestic and export markets.

"We reaffirm our positive stance on the entire T&D sector, which is experiencing multiyear tailwinds supporting growth. We believe that valuations are no longer cheap for the sector, but the possibility of further earnings upgrades and unfolding of export opportunities can sustain these valuations," stated Motilal Oswal in its latest report.

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The brokerage has mentioned CG Power, Atlanta Electricals, GE Vernova T&D India, Hitachi Energy, and Siemens Energy as the key beneficiaries of upcycle in the industry. Strong global demand has created an opportunity for domestic manufacturers to capitalise on exporting to the US and EU markets, driven by renewable energy and data centre demand.

CG Power Share Price Target, Recommendation

CG Power and Industrial Solutions is expected to benefit from the strong market in the transmission sector with its existin as well as upcoming capacity expansion. The company is also ramping up its portfolio of HT motors and may gain from demand recovery in the industrial segment.

Motilal Oswal has maintained a 'Buy' recommendation for the stock with a target price of Rs 900 per share. THe stock opened marginally higher at Rs 800.05 per share on Tuesday, April 21.

"We initiate coverage on the stock with a BUY rating and a TP of INR900 based on SoTP methodology on Mar'28E earnings. Key risks to our thesis would come from lower-than-expected order inflows, intensified competition from domestic and Chinese players, and a surge in commodity prices," read Motilal Oswal report.

Atlanta Electricals Share Price Target

Atlanta Electricals is in its transition phase from a low-voltage transformer manufacturer to a high-voltage transformer player. Motilal Oswal has maintained a 'Buy' rating for the stock with a target price of Rs 1650 per share. The stock opened nearly 2% higher at Rs 1429.45 per share on Tuesday.

Atlanta Electricals (ATLANTAE) is transitioning from a low-voltage transformer manufacturer (up to 220 kV) to a high-voltage transformer player (400kV and 765kV). It has emerged as the leading player, based on a commissioned capacity of 63 GVA. We expect the company to capitalize on the strong demand for high-range transformers from both state and central utilities.

"The stock currently trades at 40.8x/26.6x P/E on FY27E/FY28E. We initiate coverage on the stock with a BUY rating and a TP of INR1,650 based on 32x Mar'28E EPS which is still at 55% discount to CG Power."

GE Vernova Share Price Target

Unlike the previous mentions, GE Vernova is a dominant player in offering full-stack solutions across transformers, GIS, switchgears, substation automation, HVDC, and FACTS solutions across the entire T&D value chain. Motilal Oswal has given a 'Buy' rating to GE Vernova stock with a target price of Rs 4,740 per share. GE Vernova share price opened at Rs 4250 per share on Tuesday.

"The stock currently trades at 67.3x/51.6x P/E on FY27/FY28 estimates. We initiate coverage on the stock with a Buy rating and a TP of INR4,750 based on DCF implying 58x Mar'28E P/E. Key risks to our thesis would come from lower-than-expected growth in base orders, margin pressure, higher competition, and delays in execution ramp-up across HVDC projects"

Hitachi Energy India Share Price Target

Hitachi Energy continues to stand as a key beneficiary of growing investments across transmission, HVDC, railways and data center power infrastructure. The brokerage has given 'Neutral' rating to the stock with a target price of Rs 2,700 per share.

"We revise our fair value to INR27,000 based on 60x on Mar'28E earnings, and upgrade our rating on the stock to Neutral."

Siemens Energy India Share Price Target

Strong addressable market in the T&D segment and an increase in export-driven demand is likely to boost Siemens Energy India growth outlook. Motlal Oswal has given 'Buy' rating to the stock with a target price of Rs 3,700 per share. The stock opened higher at Rs 3227.05 per share.

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