Top Power Stocks Compared: JP Power vs Suzlon vs Vedanta Power vs Reliance Power vs Inox Wind on Price, Valuation, Q2 FY27 Results and Risks
- November 2, 2026
- Posted by: Kunal Singla
- Category: Market
Power stocks 2 Nov (3:25 PM): JP Power Rs 13.55, Suzlon Rs 35.25, Vedanta Power Rs 34.18, Reliance Power Rs 18.58, Inox Wind Rs 59.78. Suzlon Q2 profit down 69%, Vedanta Power first profit.
Quick Answer
Power stocks on 2 November 2026: JP Power Rs 13.55 (up 6.53%), Suzlon Rs 35.25 (up 3.98%), Vedanta Power Rs 34.18 (up 3.17%), Reliance Power Rs 18.58 (up 3.74%) and Inox Wind Rs 59.78 (up 8.30%) at 3:25 PM IST. Suzlon and Inox Wind make wind turbines, while the other three generate power. Suzlon’s Q2 profit fell 69% on a high base, Vedanta Power posted its first profit and JP Power’s profit fell 82% on a one-off.
Power stocks are rallying together, but the five names in this comparison are not the same business. Suzlon and Inox Wind build wind turbines, while JP Power, Vedanta Power and Reliance Power generate electricity, mostly from thermal power. This article on power stocks compares price, valuation, Q2 FY27 results and the main risk in each, so you can see what you are really buying.
Prices are as of 3:25 PM IST on 2 November 2026. Q2 FY27 results for Inox Wind and Reliance Power were not available in the sources reviewed, and the article says so where relevant.
Click Here – Get Free Investment Predictions
Power Stocks: Quick Comparison
| Stock | Business | Price (NSE) | Market cap | P/E | P/B | ROE | Debt/equity |
|---|---|---|---|---|---|---|---|
| JP Power | Power generation | Rs 13.55 (+6.53%) | Rs 8,724 cr | 17.68 | 0.66 | 9.05% | 0.23 |
| Suzlon Energy | Wind turbines | Rs 35.25 (+3.98%) | Rs 46,159 cr | 20.39 | 4.50 | 21.98% | 0.07 |
| Vedanta Power | Power generation | Rs 34.18 (+3.17%) | Not stated | Not stated | Not stated | Not stated | See below |
| Reliance Power | Power generation | Rs 18.58 (+3.74%) | Rs 7,399 cr | Loss-making | 0.51 | -0.92% | 0.92 |
| Inox Wind | Wind turbines | Rs 59.78 (+8.30%) | Rs 9,644 cr | 23.15 | 1.51 | 6.35% | 0.25 |
Source: NSE and BSE data and company filings. Vedanta Power listed on 15 June 2026 after the Vedanta Group demerger, so some ratios are not yet available.
Wind Turbine Makers: Suzlon and Inox Wind
Suzlon Energy
Suzlon reported Q2 FY27 revenue of Rs 4,869.05 crore, up 26%, with record deliveries of 710 MW and an order book of over 6 GW, and net cash of Rs 2,048 crore. Net profit fell 69% to Rs 394.15 crore because the year-ago quarter included a Rs 891 crore deferred tax asset benefit, and profit before tax fell 7.9% to Rs 518.21 crore. The company’s net worth crossed Rs 10,000 crore. SEBI proceedings and margin volatility are the risks flagged in reports.
Inox Wind
Inox Wind is up 8.30% today and trades at a P/E of 23. Its latest quarterly detail available is Q1 FY27: revenue of Rs 872 crore, adjusted EBITDA of Rs 237 crore, profit of Rs 64 crore and an order book of about 4.4 GW. Management is shifting its mix from turnkey projects to equipment supply to ease working capital, and its operations and maintenance arm, Inox Green, expects the WindWorld India acquisition to add a 4.5 GW portfolio. Check the Q2 results when they are filed.
Compare power and renewable stocks on the Univest Screener
Power Generators: JP Power, Vedanta Power and Reliance Power
JP Power
JP Power reported Q2 FY27 profit of Rs 33.34 crore, down 82%, after a Rs 511 crore one-off settlement with NARCL, while revenue rose 5% to Rs 1,512 crore. Earnings before exceptional items were about Rs 521 crore. About 56% of capacity is under long-term contracts and 975 MW is untied, so earnings depend on market prices. Auditors flagged a Rs 5,696 crore recompense claim from lenders, and legal issues remain.
Vedanta Power
Vedanta Power posted its first quarterly profit in Q2 FY27: revenue of Rs 2,908 crore, up 38%, EBITDA of Rs 421 crore, up 122%, and profit after tax of Rs 83 crore against a loss of Rs 1,688 crore. Net debt fell to Rs 7,444 crore and net debt to EBITDA improved to 4.47 times from 9.82 times, and ratings were upgraded to AA minus. In the Vedanta Power vs Reliance Power comparison, Vedanta Power’s shares jumped about 14% on 30 October, yet remain below their June listing price.
Reliance Power
Reliance Power is loss-making on a trailing basis (EPS of minus Rs 0.77) and trades at about half its book value, with debt to equity of 0.92. Its consolidated profit in Q1 FY27 was Rs 64.71 crore, and a Q2 FY27 result was not available in the sources reviewed. It is the most speculative of the five.
Which Power Stock Fits Which Investor?
| If you want | Look at | Key risk |
|---|---|---|
| Wind equipment growth with a strong order book | Suzlon | Margins, execution, regulatory proceedings |
| Wind equipment at a lower valuation | Inox Wind | Working capital, Q2 results awaited |
| Thermal power turnaround with improving debt | Vedanta Power | High leverage, short profit history |
| Merchant power exposure with deep value | JP Power | One-offs, lender claims, legal issues |
| High-risk turnaround | Reliance Power | Losses and weak history |
In JP Power vs Suzlon style comparisons, these are scenario guides, not recommendations. Among power stocks, turbine makers and power generators respond to different drivers, such as order inflow versus tariffs and coal costs, so diversifying across them is not the same as diversifying within one.
Download the Univest iOS App or Univest Android App to track power stocks live on your watchlist.
Conclusion
Power stocks are moving together today, but Suzlon and Inox Wind are equipment makers with order books, while Vedanta Power, JP Power and Reliance Power are generators with debt, legal and tariff risks. Suzlon has the strongest numbers, Vedanta Power has the clearest turnaround, and Reliance Power is the riskiest. Always check the business model before buying a sector rally.
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 on Power Stocks
Which are the top power stocks in this comparison?
Ans. The comparison covers JP Power, Suzlon Energy, Vedanta Power, Reliance Power and Inox Wind. Suzlon and Inox Wind make wind turbines, while JP Power, Vedanta Power and Reliance Power generate electricity. On 2 November 2026 all five were higher, with Inox Wind up 8.30% and JP Power up 6.53% at 3:25 PM IST.
What is the difference between Suzlon and Vedanta Power?
Ans. Suzlon is a wind turbine maker that earns from selling turbines and projects, with an order book of over 6 GW, while Vedanta Power generates and sells electricity, mainly from thermal plants, and earns from power sales and tariffs. They have different drivers, risks and balance sheets, so they are not substitutes.
Why did Suzlon's profit fall 69% in Q2 FY27?
Ans. Suzlon's consolidated profit fell to Rs 394.15 crore from Rs 1,279.44 crore because the year-ago quarter included a deferred tax asset benefit of Rs 891 crore. Revenue rose 26% to Rs 4,869.05 crore and profit before tax fell 7.9%, so the underlying fall is much smaller than 69%.
How did Vedanta Power perform in Q2 FY27?
Ans. Vedanta Power reported its first quarterly profit: revenue of Rs 2,908 crore, up 38%, EBITDA of Rs 421 crore, up 122%, and profit after tax of Rs 83 crore against a loss of Rs 1,688 crore. Net debt to EBITDA improved to 4.47 times from 9.82 times, and ratings were upgraded to AA minus.
Why did JP Power's profit fall 82%?
Ans. JP Power's Q2 FY27 profit fell to Rs 33.34 crore because of a one-off Rs 511 crore exceptional charge for a settlement with NARCL. Revenue rose 5% to Rs 1,512 crore, and earnings before exceptional items were about Rs 521 crore. Auditors also flagged a Rs 5,696 crore lender recompense claim.
Is Reliance Power a good investment?
Ans. Reliance Power is loss-making on a trailing basis, trades at about half its book value and has debt to equity of 0.92. It is the most speculative stock in this group, and its Q2 FY27 result was not available in the sources reviewed. Consider your risk tolerance carefully.
What are the risks of investing in power stocks?
Ans. Fuel and coal costs, tariff and contract risk, high debt at thermal generators, legal and lender disputes, order execution and margin pressure at turbine makers, and sharp sentiment swings, since these stocks often rise and fall together. Policy on renewables and tenders also affects the sector.
Which power stock should I buy?
Ans. There is no single answer: Suzlon has the strongest order book, Vedanta Power has the clearest turnaround but high leverage, and JP Power and Reliance Power carry legal and balance sheet risks. Match the business to your risk limits and avoid chasing a sector rally. This is not investment advice, so consult a SEBI-registered advisor.
