# NTPC to Tata Power: Bernstein sees up to 50% upside in 6 stocks amid data centre boom

> Bernstein predicts 50% stock gains for NTPC and Tata Power as India's data centre demand surges.
- Title: NTPC to Tata Power: Bernstein sees up to 50% upside in 6…
- Summary: Bernstein predicts 50% stock gains for NTPC and Tata Power as India's data centre demand surges. Bernstein identifies NTPC with 50% potential upside as…
- Keywords: ntpc, tata power, bernstein, data centre, power grid, stock market, electricity demand, business, money, news, Tata, Power
- Source: Financialexpress — https://financialexpress.com/market/ntpc-to-tata-power-bernstein-sees-up-to-50-upside-in-6-stocks-amid-data-centre-boom-4372242
- Author: Oliviya Kunjumon
- Published: 2026-10-29T11:25:41+00:00
- Read time: 1 min
- Topics: ntpc, tata power, bernstein, data centre, power grid, stock market, electricity demand, business, money, news
## Data Centre Boom in India
India's data centre demand is rising rapidly, driving electricity consumption higher.

> These are giant buildings full of computers. They eat enormous amounts of electricity.
## Bernstein's Report Highlights
Bernstein identifies six power and infrastructure stocks with potential upside amid data centre growth.

> NTPC offering 50% potential upside, followed by Tata Power and Power Grid.
## Electricity Demand Projections
India's estimated electricity requirements for data centres doubled from 14 gw to 26 gw between march and july 2026.

> The ministry of power’s estimate of data centre power demand for 2032 doubled from around 14 gigawatts (gw) to approximately 26 gw.
## Approved Connectivity Projects
Approximately 35 gw of data centre grid connectivity applications have been approved across central and state grids.

> The report mapped applications for around 35 gw of connectivity across central and state grids, of which 12 gw had received approval.
## Top Stock Targets
NTPC, Tata Power, Power Grid, Larsen & Toubro, Adani Power, and NTPC Green Energy are Bernstein's top picks.

> NTPC Overweight Rs 450 50.00% Tata Power Overweight Rs 430 27.00% Power Grid Overweight Rs 313 26.70%
## Adani Group's Lead
Adani Group has 1.5 gw of approved data centre connectivity, with additional 6-8 gw applications.

> The adani group stands out in this assessment. According to the brokerage report, it is the only applicant with around 1.5 gw of approved connectivity for data centre use.
## State-Level Markets
Maharashtra has 8 gw of approved data centre grid connectivity, with navi mumbai as a key hub.

> Maharashtra remains an important data centre hub. The brokerage mapped around 8 gw of approved or pending connectivity.
## Key takeaway

Bernstein identifies NTPC with 50% potential upside as India's data centre boom drives electricity demand.