Adani Power Limited has overtaken Infosys in market capitalisation on May 27, marking a significant milestone in the ongoing rerating of India’s power sector relative to its long-dominant technology giants.
Adani Power’s total market capitalisation stood at approximately ₹4,81,770 crore as of 11:15 AM IST, with the stock trading at ₹249.93, up 2.21% on the day. Infosys, by comparison, carried a market capitalisation of ₹4,72,281 crore with its stock trading at ₹1,164.40, down 0.28%.
The gap between the two, while narrow, represents a symbolic shift. Infosys has been one of India’s most consistently valued large-cap companies for over two decades, seen as a benchmark for the country’s technology sector. Adani Power, a thermal power generation company that was trading below ₹125 a year ago, has more than doubled in the past twelve months as India’s power demand surge, tight grid capacity, and the Iran war-driven energy crisis repositioned power generators as among the most sought-after stocks in the market.
Adani Power’s NSE data shows the stock has delivered close-to-close price movement of more than 50% in the past three months and more than 100% over the past year. Traded volume on May 27 stood at 480.30 lakh shares with a traded value of ₹1,194.36 crore, reflecting significantly higher market activity than Infosys, which saw traded volume of 26.71 lakh shares worth ₹310.07 crore.
The crossing underlines how dramatically the relative valuation of India’s energy and technology sectors has shifted since the Iran war began on February 28, with power, oil, and energy-adjacent stocks absorbing the bulk of re-rating flows while IT stocks have faced headwinds from global slowdown concerns and US demand uncertainty.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please consult a qualified financial advisor before making any investment decisions.