Power stocks rally up to 100% in FY24. Should you chase the momentum?

Shares of PSU Bharat Heavy Electricals Limited (BHEL), which manufactures power generation equipment, has grown 77% so far in FY24, while JSW Energy is also up 75%. Investors are also paying attention to PSU utilities like NTPC and NHPC, which have given returns of 36% and 30% in FY24, as they look inexpensive and come with good dividend yields.

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