India and the US aim to strengthen ties and double bilateral trade to $500 billion by 2030. Along with US scaling up defence sales, PM Modi said that “In order to ensure India’s energy security, we will focus on trade in oil and gas. Investment in energy infrastructure will also increase in nuclear energy. We also discussed increasing cooperation on small modular reactors.”
As US-India deliberate on nuclear energy cooperation, let’s take a look a 4 key stocks in the nuclear and infrastructure sectors.
Bharat Heavy Electricals Limited (BHEL)
BHEL plays a major role in India’s power sector, supplying essential equipment for nuclear power plants. The company is among the country’s largest engineering firms, specialising in the design, construction, and maintenance of a wide range of products.
As of today, BHEL’s share price is trading at Rs 196.60, down 2.54% in early trade. Over the past five days, the stock has dropped by 4.36%, while in the last six months, it has seen a sharp decline of 32.24%.
It holds a unique position in India’s nuclear energy sector as the only company involved in all three stages of the country’s Nuclear Power Programme. From Pressurised Heavy Water Reactors (PHWR) to Fast Breeder Reactors (FBR) and the advanced Heavy Water Reactors (AHWR), BHEL has played a key role in India’s nuclear energy programme
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L&T is another company whose shares will be in the focus as it operates in manufacturing precision components for nuclear reactors. The company has executed large-scale nuclear power projects for both domestic and international clients.
L&T share price is currently trading at Rs 3,256.55, down 0.20%. In the past five days, L&T’s share price has declined by 1.65%. With a market capitalisation of Rs 4.48 lakh crore, its 52-week high stands at Rs 3,963.50, while the 52-week low is Rs 3,175.05.
L&T supplies components to NPCIL for the PHWR Fleet Programme and was also involved in developing nuclear-powered attack submarines for the Indian Navy.
Hindustan Construction Company (HCC)
HCC share price will also be in the focus as it has been instrumental in building India’s nuclear power capacity, partnering with the Department of Atomic Energy (DAE) and NPCIL.
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