Waaree, Premier, Vikram, Tata Power, Adani Energy, To Coal India: 10 Stocks To Gain From AI Data Centre Push

Waaree Energies, Premier Energies, Vikram Solar, Tata Power, Adani Energy Solutions, Coal India, NTPC, and three other energy and BESS stocks are poised to benefit from India's artificial intelligence data centre push. The data centre power demand is expected to surge significantly in the next 2-3 years. This will not only boost business of power generating firms but also bring opportunities for companies in the battery energy storage segment (BESS), as per PL Capital report.

CEA projects total BESS demand of 236GWh by 2031-32, whereas, India's data centre led power demand is expected to surge by 0.7% of total demand in FY25 to 1.6% by FY30E, as per PL Capital report released on Monday, May 11.

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Coal India, Tata, IEX, NTPC, Power Grid, AESL, CESC More

AI data centre demand is likely to account for a significant share of power consumption in metro cities such as Mumbai/Navi Mumbai and Chennai. Data centers could account for nearly 28% of Mumbai's peak demand by financial year 2029-30.

Name of the Company	Rating	CMP (INR)	TP (INR)
Adani Energy Solutions	Hold	1,354	1,452
CESC	BUY	184	216
Coal India	Accumulate	456	515
Indian Energy Exchange	Hold	134	135
NTPC	BUY	402	423
Power Grid Corporation of India	BUY	314	348
Tata Power Company	HOLD	436	359

"Mumbai/MMR-focused utilities such as Adani Energy Solutions, Tata Power could benefit from rising hyperscale data-centre power demand and associated grid capex," noted PL Capital in its report. Apart from Mumbai, focus on building AI-infrastructure across India would benefit power transmission utilities like Power Grid Corporation of India.

"On the generation side, the requirement for uninterrupted, RTC supply supports demand visibility for baseload providers, including NTPC, JSW Energy, Adani Power and Tata Power, while accelerating the adoption of hybrid renewable solutions offered by players such as Adani Green Energy," as per PL Capital report.

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As India's data centre power demand is likely to grow multifold in coming years, BESS demand is also expected to growt significantly in the duration.

Name of the Company	Rating	CMP (INR)	TP (INR)
Premier Energies	Hold	1,012	905
Vikram Solar	Accumulate	215	226
Waaree Energies	BUY	3,230	3,713

"Declining battery prices and stronger policy support are further improving the economic viability of BESS adoption for data center operators. Waaree Energies, Premier Energies and Vikram Solar are likely key beneficiaries, given their ability to integrate solar modules with BESS solutions," as per PL Capital Report.

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