AI selloff pulls India’s power capex stocks lower
after close1 source ↓machine-written, see hownot a recommendation
- HFCL close
- ₹226.27
- On the day
- -4.38%
- 52-week high
- ₹256.70
- 52-week low
- ₹59.82
Power-capex and AI-infrastructure-linked stocks in India fell sharply on 06 Nov 2026 after a sell-off in US and Asian AI-linked equities spread to domestic markets. The Economic Times reported that TD Power and Thermax plunged 15% each during the session, while HFCL and Sterlite Technologies were locked in a 5% lower circuit. CG Power declined 7%, Hitachi Energy fell 5%, and Aeroflex Industries and KRN Heat Exchanger dropped 5% in morning trade. ⚡
The move reflected a broad de-rating of the AI-capex theme rather than a company-specific announcement. Investors feared that the Democratic Party’s victory in the US midterm elections could bring restrictions on data-centre expansion and slow the build-out of artificial-intelligence infrastructure. That matters for Indian suppliers linked to power equipment, transmission, cooling, networking and data-centre components because a slower expansion cycle could affect new-order expectations and future growth valuations.
AI-capex theme sell-off
• TD Power and Thermax recorded the steepest reported declines, falling 15% each during the session.
• HFCL and Sterlite Technologies hit a 5% lower circuit, while CG Power fell 7% and Hitachi Energy declined 5%.
• OI Charts data for HFCL on 02 Sep 2026 showed a close of ₹226.27, down 4.4%, on volume of 1.70 cr shares. The stock had gained 6.6% over 20 sessions and traded between ₹59.82 and ₹256.70 over 52 weeks, with the high recorded on 31 Aug 2026.
• OI Charts data for Sterlite Technologies on 13 May 2026 showed a close of ₹405.15, up 1.7%, on volume of 63.08 lakh shares. It had gained 66.9% over 20 sessions and stood near its 52-week high of ₹414.40, recorded on 12 May 2026.
The earlier OI Charts figures are historical references and do not represent the 06 Nov session. Traders will be watching subsequent price-volume action, company commentary on order pipelines, data-centre exposure and international demand. Stabilisation or further weakness across the group will show whether the move remains a broad AI-theme unwind or becomes more specific to individual business outlooks. 💼📉
The sell-off followed a strong run in several AI-beneficiary stocks during 2026, increasing sensitivity to valuations and positioning. New order intake, capex plans and policy signals affecting US infrastructure spending remain the key evidence for assessing whether operating fundamentals have changed.
Source: news.google.com, 06 Nov 2026; The Economic Times, 06 Nov 2026
Not investment advice. For informational purposes only.