Investing in the right stocks can be very fruitful while on the other hand, it can lead to minimum returns if the stocks are not chosen in the right way. There are several companies that you can invest in to get stable and higher returns. Well, in this post we will share some of the best power and energy stocks to invest in 2023. This post has some details of the top power and energy stocks like BHEL, IEX, and more to help you choose the best one for your next investment!
Best Power and Energy Stocks to Invest in 2023
Bharat Heavy Electricals Ltd (BHEL)
BHEL is one of the largest engineering and manufacturing companies in India. The company has already acquired a larger scale in the industry and has a good name in terms of stocks. Being one of the leading companies in the power field, it offers over 180 products and systems in various industries like oil and gas, power, transmission, and many more. BHEL share price as of today is Rs.84.65. Additionally, BHEL has a substantial international presence, operating power plants manufactured in 82 nations on all six continents, with an installed capacity close to 10,000 MW.
Indian Energy Exchange Limited (IEX)
The first and biggest power exchange in India is (IEX). It holds a commanding market share of more than 98% of the electricity traded volume and has a wide range of registered players (over 6300). IEX gives participants the chance to trade in power contracts, Renewable Energy Certificates (RECs), and ESCerts (Energy Saving Certificates) by providing an automated trading platform for the physical supply of electricity. On March 26, 2007, a public limited company called Indian Energy Exchange Limited was established in Maharashtra. On April 17, 2007, the Company received a certificate of initial operation. In 2009, trading in the day-ahead market (DAM) started on its exchange. IEX share price as of today is Rs.128.20.
Reliance Energy Ventures
Despite being a conglomerate that has diversified into several industries, Reliance, the largest firm in India, continues to focus primarily on oil-to-chemical (OTC) operations, exploration and production, and refining. It gained unexpectedly as a result of increasing refining margins and significantly less expensive Russian oil barrels. Reliance has several green energy projects in the works and wants to become carbon neutral by 2035, all of which point to a promising future for the business.
ONGC
The primary business activities of ONGC, a public sector organization (PSU), include oil and gas exploration, production, and related oil-field services. More than 71% of India’s domestic oil production comes from it. The IEA predicts a rise in oil demand, which bodes well for ONGC’s prospects for expansion.
Final Thoughts
Finally, buying equities in the energy industry will aid traders and investors in diversifying their holdings. We must completely know about the details of stocks before investing in any group. If you are new to investment then you must note that some factors affect the investment and return rates, therefore carefully examine the stocks so that you get the best stability in terms of returns.
