Top 6 Stocks to Watch as US Nuclear Delegation Visits India to Explore Opportunities

Synopsis: US nuclear delegation visit and India’s SHANTI law are boosting nuclear sector outlook, unlocking private and foreign participation, with major beneficiaries including BHEL, NTPC, L&T, and few others

The expansion of nuclear energy will help India achieve reliable, round-the-clock clean power, reducing dependence on coal and imported fossil fuels. This will improve energy security, stabilize long-term electricity prices, and support high-growth sectors such as manufacturing, data centres, and electric mobility that require an uninterrupted power supply.

It will also accelerate India’s transition toward net-zero emissions by 2070 by adding a large-scale low-carbon energy source. In addition, foreign collaboration and private sector participation can bring advanced technology, capital investment, and faster project execution, helping India scale nuclear capacity much more efficiently than in the past.

Overview of the Visit

A 20-member US Executive Nuclear Industry Delegation is visiting New Delhi and Mumbai from May 18–21, 2026. This high-profile visit, organized by the US-India Strategic Partnership Forum (USISPF) and the Nuclear Energy Institute, aims to explore commercial opportunities and establish long-term partnerships. 

The delegation plans to meet with key stakeholders, including Maharashtra Chief Minister Devendra Fadnavis, officials from the Department of Nuclear Energy, the Nuclear Power Corporation of India Ltd (NPCIL), and various Indian private sector leaders. 

The Catalyst: India’s New SHANTI Law

The primary catalyst for this renewed bilateral interest is India’s landmark Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) law, enacted in December last year. 

The SHANTI Act replaced the legacy Atomic Energy Act of 1964 and the Civil Liability for Nuclear Damage (CNLD) Act of 2010. By easing the rigid liability provisions on foreign suppliers previously mandated by the CNLD Act which global firms long viewed as a major bottleneck, the new legislation has effectively opened up India’s tightly controlled civil nuclear sector to private players.

India’s Ambitious 100 GW Target

The commercial drive is fueled by India’s aggressive goal to scale its nuclear energy capacity to 100 GW by 2047, a massive leap from its current installed capacity of nearly 9 GW. 

This expansion is vital for India to reduce its reliance on fossil fuels and stay on track to achieve its long-term target of net-zero carbon emissions by 2070. To jumpstart this growth, public sector giants like the National Thermal Power Corporation (NTPC) have already formed a joint venture with NPCIL to build at least six nuclear power plants in Rajasthan (Mahi Banswara) and Madhya Pradesh (Chutka).

Key Areas of Collaboration and Future Technology

The delegation is specifically looking at joint venture opportunities, supply chain integration, and local manufacturing partnerships with major Indian private entities like Tata Consulting Engineers, Adani Group, and Larsen & Toubro. 

Beyond traditional large-scale reactors, the US and India are exploring cooperation in Small Modular Reactors (SMRs), which are highly regarded for their quick deployment capabilities and potential to repurpose old coal-based power plant sites. Additionally, the two nations are eyeing joint advancements in nuclear fusion technologies and looking into the recycling and reprocessing of spent nuclear fuel.

Stocks to watch 

Bharat Heavy Electricals Ltd (BHEL)

BHEL is the most direct beneficiary of India’s nuclear expansion. It supplies critical equipment like turbines, generators, and reactor components, and already has experience in India’s existing nuclear fleet. With rising localisation and SMR development, BHEL stands to gain strongly from both new orders and domestic manufacturing mandates.

With a market capitalisation of Rs. 1,34,982 cr, the shares of Bharat Heavy Electricals Ltd were trading at Rs. 387.85 per share, down from its previous close of Rs. 398.20 per share. 

NTPC Ltd

NTPC is emerging as a key nuclear capacity builder through its joint venture with NPCIL. As India targets 100 GW nuclear capacity, NTPC’s strong balance sheet and execution capability position it as a major developer of future nuclear power plants alongside its core thermal and renewable business. With a market capitalisation of Rs. 3,76,715 cr, the shares of NTPC Ltd were trading at Rs. 388.50 per share, down from its previous close of Rs. 394.95 per share. 

Larsen & Toubro Ltd

L&T is the strongest private-sector EPC player in India’s nuclear ecosystem. It is involved in heavy engineering, civil construction, and high-end infrastructure required for nuclear plants and SMRs. Its execution capability makes it a key contractor for future large-scale nuclear projects.

With a market capitalisation of Rs. 5,31,716 cr, the shares of Larsen & Toubro Ltd were trading at Rs. 3865.15 per share, down from its previous close of Rs. 3,907.50 per share. 

Hindustan Construction Company Ltd (HCC)

HCC is an infrastructure and civil construction company that could benefit indirectly from nuclear expansion through building foundations, tunnels, and containment structures for power plants. It is more of a cyclical infra play rather than a direct nuclear technology beneficiary.

With a market capitalisation of Rs. 5,456 cr, the shares of Hindustan Construction Company Ltd were trading at Rs. 20.83 per share, down from its previous close of Rs. 21.42 per share. 

Adani Green Energy Ltd (Adani Group) 

The easing of nuclear sector regulations in India could open up long-term strategic opportunities for the Adani Group to participate in the country’s expanding nuclear energy ecosystem. While Adani Green Energy is currently focused on large-scale renewable projects such as solar and wind, the group’s broader infrastructure and energy ambitions position it as a potential future participant in nuclear power development. 

With a market capitalisation of Rs. 2,17,591 cr, the shares of Adani Green Energy Ltd were trading at Rs. 1321 per share, down from its previous close of Rs. 1,378.05 per share. 

Tata Power Company Ltd

Tata Power is primarily a clean energy and utilities company with indirect exposure to nuclear themes. While it is not currently a nuclear player, its strong renewable portfolio and Tata group ecosystem could allow future participation in advanced clean energy or SMR-related initiatives.

With a market capitalisation of Rs. 1,27,557 cr, the shares of Tata Power Company Ltd were trading at Rs. 398.85 per share, down from its previous close of Rs. 407.15 per share. 

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