Tata Power, Adani Transmission: Is the bull-run over in power stocks?

Earlier this year, Power Grid Corporation, Adani Transmission, Tata Power and Torrent Power scaled record highs, but now are seen trading almost 11 - 22 per cent lower from their respective peaks.

Shares of power generation and distribution companies have underperformed in the last couple of months, as they relinquished to profit booking, and the optimistic sentiment that started in early 2022 is now showing signs of fatigue. 

Post August 2022, except for NTPC, other major players such as Power Grid Corporation of India, Adani Transmission, Tata Power Company and Torrent Power have either traded sideways or drifted lower. 

Earlier this year, Power Grid Corporation of India, Adani Transmission, Tata Power and Torrent Power hit record highs on entering uncharted territories; however, the currrent stock prices are way-off from their respective peaks,