Archive · 26 Jul 2026
India's SMR push boosts nuclear-linked stocks
India is planning to build its own Small Modular Reactors (SMRs) to increase its nuclear power capacity.
The government wants to have five of these reactors working by 2033.
This plan is good news for some companies that make parts for nuclear reactors.
These companies include BHEL, Larsen & Toubro, and MTAR Technologies.
They make things like steam generators, pressure vessels, and special pumps.
The stock prices of some of these companies have gone up, showing that investors are excited.
However, not all companies are doing well, and some stocks have gone down.
The government's plan is a big deal because it will help India produce more nuclear power, which is cleaner than other types of power.
But it will take many years for all the reactors to be built and start working.
India aims to operationalize five indigenous SMRs by 2033 to raise nuclear power capacity to 100 GW by 2047.
Key companies involved include BHEL, Larsen & Toubro, MTAR Technologies, Hindustan Construction Company, Kirloskar Brothers, and Walchandnagar Industries.
BHEL's stock has surged 68.55% over the past six months, while L&T's stock has remained range-bound.
MTAR Technologies reported a 29.62% year-on-year increase in revenue for FY26.
Hindustan Construction Company (HCC) has experience in constructing nuclear power facilities and reported a 120.35% return over the last five years.
- Who
- Indian government and listed engineering and capital goods companies
- What
- Push to build indigenous Small Modular Reactors (SMRs)
- When
- Target to operationalize five SMRs by 2033
- Where
- Tarapur in Maharashtra
- Why
- To raise nuclear power capacity to 100 GW by 2047
Optimistic View
Cautious View
Stock Performance
Optimistic View
Stocks of companies like BHEL and MTAR Technologies have shown significant growth, indicating investor confidence in the SMR push.
Cautious View
Stocks like L&T and HCC have shown mixed performance, suggesting caution among investors.
Project Timelines
Optimistic View
The government's target of operationalizing five SMRs by 2033 is seen as a positive step towards increasing nuclear power capacity.
Cautious View
The long-term nature of the project may delay immediate benefits for the companies involved.
- Government Target
- 5 indigenous SMRs by 2033
- Current Nuclear Capacity
- 8.8 GW
- Target Nuclear Capacity by 2047
- 100 GW
- Key Companies Involved
- BHEL, Larsen & Toubro, MTAR Technologies, Hindustan Construction Company, Kirloskar Brothers, Walchandnagar Industries
- BHEL Share Price (24 July)
- Rs 417.50
- L&T Share Price (24 July)
- Rs 3,785.70
- MTAR Technologies Revenue (FY26)
- Rs 876.21 crore
- HCC Revenue (FY26)
- Rs 3,969.6 crore