Heatwave Drives Surge in Power Stocks: Blue Star, LG, Voltas Rise, NTPC Gains Up to 3.5% in North India

Heatwave in North India Boosts Demand for Cooling Appliances

Shares of air-conditioner makers and power companies traded higher on Monday as parts of north India, including Delhi, continued to reel under severe heatwave conditions. The India Meteorological Department (IMD) has issued a yellow alert for several regions as temperatures remained elevated across the national capital and surrounding areas. Delhi continued to witness harsh summer conditions, with maximum temperatures above 42 degrees Celsius in multiple locations. The Ridge station recorded the highest temperature at around 43.5 degrees Celsius.

The heatwave conditions have driven demand for cooling products, resulting in a surge in shares of major air-conditioner and appliance companies. Blue Star, a major player in the industry, rose 3.44% to Rs 1,881. Other notable gainers include Voltas, which gained 2.34% to Rs 1,498.20, and LG Electronics India, which advanced 3.30% to Rs 1,630.

Contract manufacturers and component suppliers linked to the cooling appliance segment also saw buying interest. Amber Enterprises climbed 2.77% to Rs 7,968, while PG Electroplast added 2.45% to Rs 560.55.

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The heatwave is also expected to lift electricity demand as households and businesses increase air-conditioner and cooling usage. Among power sector stocks, NTPC rose 1.98% to Rs 409.80, while Power Grid Corporation gained 1.00% to Rs 319.55.

The weather office said heatwave conditions are likely to persist across northwest, central and eastern India over the coming days, with Bihar, Jharkhand, Gangetic West Bengal, and Odisha among regions expected to see elevated temperatures. Dry northwesterly winds, clear skies, and strong solar radiation are driving the current spell, while some areas are also witnessing warmer nights with limited relief.