Power stocks shine amid market consolidation: Is it a cause for concern?

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Power stocks have been defying the downward trend of the overall market, surging to new heights due to their stability, the ongoing global shift towards renewable energy sources, and investor focus on environmental, social and governance (ESG) factors. The Government of India's ambitious target of achieving 450 GW of renewable energy capacity by 2030, coupled with initiatives such as the PM-KUSUM and Green Energy Corridor projects, have further contributed to this trend.

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