India has taken a landmark step in its energy and infrastructure journey.
The SHANTI Bill (Sustainable Harnessing and Advancement of Nuclear Technology for India) has now been passed in both houses of Parliament – Lok Sabha and Rajya Sabha, officially becoming law.

This is not just a policy reform.
It is a structural shift that opens a sector which was closed to private participation for decades.

What Is the SHANTI Bill?

Until now, nuclear energy infrastructure in India was largely restricted to the Central Government and its PSUs.
Private companies could only play a very limited or indirect role.

The SHANTI Bill changes this framework by:

• Allowing private limited companies to participate in nuclear energy infrastructure

• Enabling PPP models in nuclear power projects

• Creating scope for private participation in design, construction, EPC, components, and allied services

• Accelerating India’s long-term clean and base-load energy goals

With the bill passed in both Parliament houses, the legal uncertainty is now removed.

Why This Bill Is a Game-Changer

🔹 Strategic Importance

• Nuclear energy is clean, stable, and scalable

• Helps India reduce dependence on fossil fuels

• Strengthens energy security and net-zero ambitions

🔹 Economic Impact

• Massive capex opportunity over the next decade

• Long-duration, high-value infrastructure projects

• Strong multiplier effect on engineering, heavy manufacturing, and power equipment

Companies Likely to Benefit the Most

1. The “Three Pillars” of Indian Industry

These conglomerates have scale, capital, execution ability, and political-economic relevance:

• Reliance Industries – Energy transition focus, capital strength, infrastructure experience

• Adani Enterprises – Large power portfolio, EPC experience, long-term infra vision

• Tata Power – Deep expertise in power generation and utilities

2. Bharat Heavy Electricals Limited (BHEL)

• Proven track record in power equipment and heavy engineering

• Experience in government-led power and nuclear-linked projects

• Natural beneficiary as execution ramps up

3. Larsen & Toubro (L&T) – The Biggest Beneficiary

Among all names, L&T stands out as the strongest structural winner:

• Leader in nuclear EPC, heavy engineering, reactors, and precision fabrication

• Long history of working with India’s nuclear establishment

• Ability to execute complex, high-spec, long-duration projects

👉 If nuclear capex accelerates, L&T is best positioned to capture maximum value.

What About Mid & Small-Cap Companies?

Apart from large names, several smaller companies may benefit indirectly, such as:

• Specialized engineering firms

• Precision component manufacturers

• Industrial construction & fabrication players

• Power-equipment ancillaries

These companies may not be headline beneficiaries but could see steady order inflows over time.

Investment Perspective

The SHANTI Bill is not a short-term trading trigger.
It is a long-term structural theme.

Key points for investors:

• Execution will take time

• Order visibility will improve gradually

• Balance sheet strength and execution capability matter

• Focus should be on quality leaders, not hype