Power Stocks Rise on 5 October: What Is Driving CESC, TD Power Systems and RR Kabel, From the Rs 1.86 Lakh Crore PM-DHARA Grid Scheme to Record Orders and a Fresh 52-Week High
- October 5, 2026
- Posted by: Lakshit Sharma
- Category: News
Power stocks rose on 5 Oct. TD Power +4.7% to a 52-week high of Rs 820. PM-DHARA: Rs 1.86 lakh crore, 135 GW renewables, 50 GWh storage.
Quick Answer
Power stocks rose on 5 October, with TD Power Systems up about 4.7% to a new 52-week high of Rs 820 against a gain of about 0.6% for its heavy electrical equipment sector, while CESC and RR Kabel also gained. The main driver is the Rs 1.86 lakh crore PM-DHARA scheme cleared by the Cabinet on 30 September, which allocates Rs 1,36,378 crore to intra-state transmission and Rs 50,000 crore to battery storage and aims to evacuate up to 135 GW of renewable energy. TD Power is up about 141% this year and has raised its FY27 revenue guidance to Rs 2,600 crore with an order book of Rs 2,207 crore, but its rally means valuation is stretched. For CESC and RR Kabel the link is indirect, through grid capex, utilities and wires demand, so execution of the scheme matters.
Power stocks rose on Monday, 5 October, with transmission and electrical equipment names leading as investors positioned for the grid spending under the PM-DHARA scheme. TD Power Systems hit a new 52-week high of Rs 820, TARIL traded Rs 173 crore of stock, and utility CESC and cable maker RR Kabel also moved higher.
If you are searching for what is driving CESC, TD Power and RR Kabel, this article covers the PM-DHARA scheme and its battery storage and renewable evacuation funding, how the grid capex cycle benefits transformers and wires and cables makers among power stocks, a company-by-company view of TD Power, CESC and RR Kabel, other plays such as Adani Energy Solutions and TARIL, valuation and the risks. It looks at the TD Power Systems share price, the CESC share price and the RR Kabel share price in turn. Data is from exchange and company disclosures, so recheck live prices.
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PM-DHARA: The Trigger Behind the Rally in Power Stocks
| PM-DHARA item | Detail |
|---|---|
| Total outlay | About Rs 1.86 lakh crore |
| Intra-state transmission | Rs 1,36,378 crore |
| Battery energy storage | Rs 50,000 crore for about 50 GWh |
| Renewable evacuation | Up to 135 GW of renewable capacity |
| Approval | Union Cabinet, 30 September 2026 |
| Policy goal | Supports 900 GW of non-fossil capacity by 2035 |
The scheme targets the weakest link in India’s renewable build-out: transmission congestion and curtailment at intra-state level. More lines, substations, transformers and storage mean more orders for equipment makers, cable companies and grid operators, which is why power stocks reacted.
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TD Power Systems Share Price: Fresh 52-Week High Among Power Stocks
| TD Power metric | Figure |
|---|---|
| 5 October move | Up about 4.7% to a 52-week high of Rs 820 |
| One-week return | About 17% |
| Three-month return | About 55% |
| Return so far in 2026 | About 141% |
| One-year return | About 163% |
| FY27 revenue guidance | Raised to Rs 2,600 crore |
| Order book | Rs 2,207 crore, with 93% from exports |
TD Power Systems makes generators and turbine components and gets most of its orders from exports, so the TD Power Systems share price tracks global demand. It was among the most actively traded stocks by value on 5 October. Its move is only partly a PM-DHARA story, since exports and guidance upgrades drove most of the 2026 rally, but sentiment towards grid equipment helped.
CESC: The Utility Angle Among Power Stocks
CESC, the RP-Sanjiv Goenka Group’s integrated utility, covers generation, transmission and distribution and supplies about 90% of the power needs of its Kolkata customers from embedded and nearby stations. It is expanding in renewables through its subsidiary Purvah Green Power, in which it acquired a 63.91% stake for Rs 205 crore.
For the CESC share price, PM-DHARA is a sentiment and capex tailwind rather than a direct order. Stronger grid investment and renewable integration support utilities that are growing in green power, but earnings depend on tariffs and fuel costs.
RR Kabel: Wires, Cables and Grid Demand for Power Stocks
The RR Kabel share price reflects a business that manufactures wires, cables and fast-moving electrical goods such as fans, lighting and switches, and it is India’s largest exporter of wires and cables. Transmission and urban electrification projects raise demand for power cables, while housing and construction support the wires business. Brokerages such as YES Securities have rated the stock Buy in the past on margin improvement and new capacity.
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Other Power Stocks Moving on PM-DHARA
| Stock | Move | Note |
|---|---|---|
| Transformers and Rectifiers (TARIL) | Up as much as 10% on 1 October; traded Rs 173.17 crore on 5 October | Rs 268.60 to Rs 295.50; still about 47% below levels a year ago |
| Adani Energy Solutions | Up nearly 5% on the approval | Up about 40% in six months |
| TD Power Systems | Fresh 52-week high of Rs 820 | Exports and guidance upgrade |
TARIL’s rise is a rebound from depressed levels rather than a new high, and some data providers rate it Sell on valuation and momentum, a reminder that not every scheme beneficiary among power stocks is a bargain.
Valuation and Execution Risks for Power Stocks
Valuation: After gains of 141% in 2026 for TD Power, expectations across power stocks are high and any order delay can hit the TD Power Systems share price.
Execution: PM-DHARA is a Cabinet approval; state-level project awards and timelines will decide when orders reach power stocks.
Indirect exposure: CESC and RR Kabel benefit indirectly, so the scheme may not lift their earnings much.
Commodity costs: Copper and steel price swings affect cable and equipment margins.
Funding: State discoms’ finances can delay payments and project starts.
What to Watch Next for Power Stocks
- State-level tenders and award announcements under PM-DHARA.
- Order inflows and guidance in Q2 results from TD Power, TARIL and cable makers.
- CESC’s renewable capacity additions through Purvah Green Power.
- Copper prices and their effect on wires and cables margins.
- Whether TD Power holds above Rs 820.
Conclusion
Power stocks rose on 5 October on the back of the Rs 1.86 lakh crore PM-DHARA scheme, with TD Power Systems hitting a 52-week high of Rs 820 and CESC and RR Kabel also higher. The scheme backs grid transmission, storage and renewable evacuation, but the benefit to CESC and RR Kabel is indirect, and valuations of power stocks are stretched after large gains. Consult a SEBI-registered advisor before making any decision.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
Why did power stocks rise on 5 October?
Ans. Power stocks rose on the Rs 1.86 lakh crore PM-DHARA scheme, which funds transmission, storage and renewable evacuation, plus a strong broader market.
What is the PM-DHARA scheme?
Ans. It is a Rs 1.86 lakh crore plan cleared by the Cabinet on 30 September, with Rs 1,36,378 crore for intra-state transmission and Rs 50,000 crore for battery storage.
What is driving TD Power Systems share price?
Ans. Export orders, a raised FY27 revenue guidance of Rs 2,600 crore, an order book of Rs 2,207 crore and sentiment around grid equipment pushed it to a 52-week high of Rs 820.
How does PM-DHARA affect the CESC share price?
Ans. Indirectly. CESC is an integrated utility expanding in renewables, so stronger grid investment supports it, but earnings depend on tariffs and fuel costs.
How does PM-DHARA affect the RR Kabel share price?
Ans. Transmission and electrification projects raise demand for power cables, and construction supports the wires and electrical goods business.
Which other stocks benefit from PM-DHARA?
Ans. Transformers and Rectifiers, Adani Energy Solutions and other transmission and equipment makers rallied on the approval.
What are the risks for power stocks now?
Ans. Stretched valuations, slow state-level execution, commodity costs and discom funding delays.
Are power stocks a good buy now?
Ans. This article does not constitute investment advice. The scheme is positive, but valuations have risen. Consult a SEBI-registered financial advisor before investing.