Morgan Stanley: Rising Summer Power Demand to Boost Adani Power, JSW Energy, Tata Power Stocks

• Morgan Stanley predicts a surge in power demand for FY27 due to rising temperatures and heatwave conditions across India.
• FY26 saw muted demand, but early FY27 trends indicate a reversal, pointing to increased electricity consumption.
• Supply-side risks include lower generation from gas and hydro power, affected by Middle East tensions and a dry Himalayan spring.
• Thermal coal-based generation is expected to shoulder a larger share of incremental demand, benefiting specific power producers.
• Adani Power, JSW Energy, Tata Power, Torrent Power, and NTPC are identified as potential beneficiaries from this shift.