AI selloff hits India too: TD Power, HFCL, Sterlite, other power capex-linked stocks crash up to 15%

Shares of power capex companies such as TD Power, Thermax, Netweb Technologies, HFCL, CG Power and Hitachi Energy, among others, tumbled up to 15% on Friday as a sharp sell-off in US and Asian AI-linked stocks triggered a broad-based decline in domestic AI-related stocks. The downturn was fuelled by the Democrats’ victory in the US midterm elections.

TD Power and Thermax were among the worst-hit stocks, plunging 15% each during the session. HFCL and Sterlite Technologies, which have emerged as major AI beneficiaries in 2026, were locked in the 5% lower circuit. Hitachi Energy and CG Power fell 5% and 7%, respectively, while Aeroflex Industries and KRN Heat Exchanger declined 5% in morning trade.