Hitachi Energy India Ltd Share Price – NSE /  BSE

Capital Goods - Electrical Equipment, Small Cap

The key equity indices traded continued to trade with major cuts in morning trade. The Nifty slipped below the 24,300 level. Private bank shares extended losses for the third consecutive trading session. Trading could be volatile due to the expiry of monthly index options on the NSE.

At 10:30 ST, the barometer index, the S&P BSE Sensex, was down 471.31 points or 0.60% to 79,669.56. The Nifty 50 index declined 135.15 points or 0.55% to 24,278.35.

In the broader market, the S&P BSE Mid-Cap index fell 0.87% and the S&P BSE Small-Cap index shed 0.30%.

The market breadth was negative. On the BSE, 1,704 shares rose and 1,853 shares fell. A total of 155 shares were unchanged.

Result today:

Tech Mahindra (down 1.33%), Nestle India (up 0.03%), Motilal Oswal Financial Services (up 1.16%), Aavas Financiers (down 1.25%), Adani Green Energy (up 1.23%), Ashok Leyland (down 0.45%), AU Small Finance Bank (down 1.66%), Canara Bank (down 1.64%), Chalet Hotels (down 3.55%), Chennai Petrochem Corp (down 1.42%), Cyient (up 0.48%), DLF (down 0.32%), Glenmark Life Sciences (down 0.35%), Go Digital General Insurance (down 0.1.98%), Home First Finance Company India (down 1.01%), Jupiter Wagons (down 1.18%), Jyothy Labs (up 0.23%), Laurus Labs (down 1.15%), MGL (down 0.74%), Mphasis (down 2.12%), PNB Housing Finance (down 1.13%), Praj Industries (down 0.92%), The Ramco Cements (down 1.05%) will announced their quarterly earnings later today.

Buzzing Index:

The Nifty Private Bank index declined 1.58% to 25,199.45. The index dropped 3.13% in the three trading sessions.

Axis Bank (down 6.16%), RBL Bank (down 3.99%), ICICI Bank (down 2.03%), City Union Bank (down 1.56%) and IndusInd Bank (down 1.36%) were the top losers. Among the other losers were Federal Bank (down 1.3%), IDFC First Bank (down 1.28%), Bandhan Bank (down 0.51%).

On the other hand, HDFC Bank (up 0.43%) ,Kotak Mahindra Bank (up 0.23%) turned up.

Stocks in Spotlight:

Hitachi Energy rose 0.19%. The company’s consolidated net profit surged to Rs 10.4 crore in Q1 FY25 as compared with Rs 2.4 crore in Q1 FY24. Revenue increased 28% YoY to Rs 1,327 crore in Q1 FY25.

Bikaji Foods fell 1.73%. The company’s consolidated revenue increased 18.7% YoY to Rs 572 crore in Q1 FY25. Net profit rose 40.3% to Rs 58 crore in Q1 FY25 from 41 crore in Q1 FY24.

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Net profit of Hitachi Energy India rose 332.37% to Rs 10.42 crore in the quarter ended June 2024 as against Rs 2.41 crore during the previous quarter ended June 2023. Sales rose 28.80% to Rs 1293.33 crore in the quarter ended June 2024 as against Rs 1004.17 crore during the previous quarter ended June 2023.

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Hitachi Energy India will hold a meeting of the Board of Directors of the Company on 24 July 2024.

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The project constitutes execution of Marinus Link – voltage source converter (VSC) high voltage direct current (HVDC) links between Tasmania and Victoria for supply of certain equipment for execution of the project - Burnie Converter Station and Latrobe Valley Converter Station.

Marinus Link is a project of national significance for Australia. It will play a fundamental role in Australia’s energy ecosystem, and the company will play a crucial role in supporting it.

The order is scheduled to be executed over a period of four years and the cost of project is Rs 790 crore.

Hitachi Energy India is the world's leading provider of grid connections and power quality solutions, with an installed base of more than 10,000 projects worldwide, over 800 of which connect renewable energy sources to the grid. In India, Hitachi Energy operates under the legal entity name Hitachi Energy India (formerly known as ABB Power Products and Systems India).

Hitachi Energy India reported 123.69% jump in net profit to Rs 113.66 crore on 27.08% increase in revenue from operations to Rs 1,695.28 in Q4 FY24 over Q4 FY23.

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