Q4 results 2026: Experts believe investors can select power stocks based on risk tolerance, with NTPC favoured for stability, Tata Power for balanced growth, and Adani Power for high-risk, high-reward potential.(Photo: Pixabay)AI Quick ReadQ4 results 2026: The 2026 season is in full swing, and market investors are eagerly awaiting the announcement of Q4FY26 numbers from BSE- and NSE-listed Indian companies. According to stock market experts, investors are looking at those segments, which is expected to defy the US-Iran war tension and take cues from the domestic triggers. Power stocks are one such segment expected to deliver alpha returns amid the arrival of summer. Though power companies have yet to announce their Q4 results for 2026, investors are putting their weight behind these stocks ahead of their Q4FY26 earnings announcements.
In one month, the stocks of Indian power majors Adani Power, Tata Power, NTPC, and others have delivered whopping returns to their shareholders. In the last month, Adani Power's share price has risen by close to 40%, Tata Power's by around 12%, whereas NTPC's has delivered returns of more than 55%. So, it would be highly tricky if someone wants to add power stock due to the summer season because these companies would be announcing their Q4 results 2026 from next week.
Speaking on the kind of Q4 results 2026 these power companies will be delivering, and how different investors should take them, Seema Srivasta, Senior Research Analyst at SMC Global Securities, said that for long-term investors choosing between Tata Power, Adani Power, and NTPC ahead of Q4 FY26, the decision rests on risk appetite, business mix, and energy-transition exposure rather than just the upcoming quarter.
On the market estimates regarding Tata Power Q4 results 2026, Seema Srivastava of SMC Global Securities, said, “NTPC is the most defensive pick, anchored by ∼65% regulated thermal assets that deliver steady ROE, predictable cash flows, and dividend comfort; while Q4 FY26 results are not yet announced, estimates point to modest growth, and its 60 GW renewable pipeline by 2032, nuclear foray, and government backing provide long-term visibility with lower volatility. A below-normal monsoon forecast for FY27 could also support higher thermal plant load factors, benefiting NTPC.”
Seema Srivasta believes that Tata Power offers the most balanced transition story, with 16,310 MW of operating capacity, leadership in rooftop solar and solar EPC, EV charging, pumped hydro, and distribution reforms upside; Q4 is expected to be softer due to higher Mundra losses without Section 11 support, but its integrated presence across generation, T&D, and green solutions makes it a steadier medium-to-long-term compounder for investors seeking both growth and relative stability.
On the market estimates regarding Adani Power Q4 results 2026, Seema Srivastava said, “Adani Power is the highest-beta thermal play, with 18,150 MW capacity, 71.8 BU sold in 9M FY26, and strong EBITDA generation, though Q3 PAT fell 18.9% YoY and Q4 is likely to remain under pressure; the stock is up 37% YTD and over 1,000% in 5 years, and recent nuclear subsidiaries add future optionality, positioning it for sharper upside on heat-wave driven demand, but regulatory, coal, and leverage risks are higher.”
On which stock is better for what kind of stock market investors, Seema Srivastava of SMC Global Securities said, conservative investors focused on regulated returns and dividends may prefer NTPC; those wanting integrated renewables plus moderate risk should choose Tata Power; aggressive investors comfortable with thermal cyclicality and policy risk can consider Adani Power, while a combination of NTPC and Tata Power balances stability with energy-transition growth.
On the technical chart pattern, Anshul Jain, Head of Research at Lakshmishree, said that among the three, divergence in price behaviour is clearly visible. Adani Power appears extended, with an ATR expansion of 10 signalling overbought conditions; a mean-reversion pullback toward the 184 zone looks likely before trend continuation.
“NTPC has confirmed a breakout from a 45-week rectangle, but its low beta nature suggests a gradual, time-wise expansion, with the 420 zone achievable albeit at a slower pace. In contrast, Tata Power stands out as the relative outperformer, having absorbed multiple shakeouts in the 365–385 zone and sustaining above 416. The structure reflects strong accumulation, positioning the stock to test all-time highs, with extension targets placed in the 520–540 zone,” Anshul Jain concluded.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records.
While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat.
Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities.
Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).