NTPC to JSW Energy: Axis Direct recommends these three power & utility stocks to buy after Q1

NTPC, Skipper, and JSW Energy are among the power and utilities stocks on which domestic brokerage firm Axis Direct remains optimistic following their June-quarter results.

Despite the sector delivering a mixed performance during the reporting quarter, the brokerage picked these three stocks, as it believes strong capacity additions, healthy order books, and improving execution could support their earnings momentum going forward.

NTPC — Buy | Target Price: ₹420

Axis Direct remains positive on NTPC as the company continues to expand across both thermal and renewable energy. NTPC Group’s installed capacity grew by 1,796 MW in Q1 FY27 to 90,904 MW as of June 30, 2026, while the group carries around 35.7 GW of capacity under construction across coal, hydro, and renewable energy projects.

Thermal capacity is guided to increase from 74 GW in June 2026 to 84 GW by FY32 and 97 GW by FY37. Meanwhile, the group’s operational renewable energy capacity stands at around 12 GW, backed by 16.4 GW under construction. NTPC aims to scale its operational RE capacity to 20 GW by FY27E, 28 GW by FY28E, 60 GW by FY32E, and 136 GW by FY37E.

Axis Direct has maintained a ‘Buy’ rating on NTPC with a target price of ₹420.

Skipper | Buy | Target Price: ₹605

Axis Direct is bullish on Skipper due to its strong order book, record bidding pipeline, and ongoing capacity expansion. The company reported order inflows of ₹1,674 crore in Q1FY27, taking its closing order book to a fresh high of ₹9,217 crore as of June 2026.

Its bidding pipeline also remains at a record level of over ₹35,000 crore, supported by domestic and international opportunities. The company’s ongoing 75,000 MTPA capacity expansion is on track for commissioning by the end of Q2FY27, which will increase its total manufacturing capacity to 450,000 MTPA.

While exports declined around 50% year-on-year in Q1 due to geopolitical developments in West Asia, management has guided for export order inflows to grow by over 50% YoY in FY27. The brokerage expects the stock to reach ₹605 apiece and as kept its 'buy' rating.

JSW Energy | Buy | Target Price: ₹630

Axis Direct’s bullish view on JSW Energy is supported by its rapid capacity ramp-up, strong pipeline, and improving balance sheet. Installed capacity grew by 872 MW to 14.5 GW in Q1FY27, while capacity additions reached 1,081 MW as of July 8, already covering 36% of its FY27 guidance of 3 GW.

Total locked-in capacity stands at 32.4 GW, providing clear visibility towards its target of 30 GW by 2030. The company has also expanded its thermal platform to 10,958 MW while continuing to focus on renewable energy growth.

Meanwhile, JSW Energy raised ₹10,150 crore, helping reduce leverage and strengthen its balance sheet to support its ₹1.1 lakh crore capex plan through FY30. Axis Direct has maintained a ‘Buy’ rating on JSW Energy with a target price of ₹630.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.