Meet The ‘Next L&T’ Of Power: Three Stocks Driving India’s Transmission Boom

WOWLY- Your AI Agent Apr 02, 2026 1,350 Views

India’s Rs 2.4 lakh crore transmission capex plan by FY30 is reshaping the power sector, with three companies—Hitachi Energy, Kalpataru Projects, and KEC International—emerging as frontrunners. Their strong order books, execution capabilities, and alignment with India’s 500 GW renewable energy target position them as the ‘next L&T’ of power.

India’s power transmission and distribution (T&D) sector has quietly moved to the center of the country’s energy transition story. With renewable capacity scaling up and electricity demand deepening across industries, data centers, railways, and urban infrastructure, the grid is being asked to do far more than just transmit power. The government’s Rs 2.4 lakh crore transmission investment plan by FY30 is designed to evacuate renewable energy from resource-rich states like Rajasthan and Gujarat to load centers across India, ensuring stability and efficiency in the national grid.

Key highlights from the announcement include

India’s transmission sector is entering a multi-year investment upcycle, driven by renewable evacuation, rail electrification, and data center demand.
The government has outlined a Rs 2.4 lakh crore transmission capex plan by FY30, aligned with the 500 GW renewable energy target.
Hitachi Energy, Kalpataru Projects, and KEC International are emerging as leaders, with strong order visibility and execution track records.
These companies are benefiting from margin recovery, diversified portfolios, and global partnerships.
The sector is expected to deliver consistent growth, with opportunities in both domestic and international markets.
Analysts view these firms as the ‘next L&T’ of power, given their scale, reliability, and ability to handle complex projects.

The rise of these three companies reflects a broader shift in India’s energy landscape. As the country accelerates its clean energy push, transmission infrastructure becomes critical to ensure that renewable power reaches consumers efficiently. With strong government backing, private sector participation, and global collaborations, India’s transmission sector is poised for sustained growth.

For investors, the transmission boom offers a rare opportunity to participate in India’s energy transition. Hitachi Energy, Kalpataru Projects, and KEC International are well-positioned to capture this growth, making them central players in the country’s journey toward a greener and more resilient power grid.

Sources: Financial Express, Money9Live, MarketsMojo

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