Hitachi Energy India stock jumps 8% after strong Q1, top midcap gainer; brokerages eye power infra opportunity

• Hitachi Energy India shares jumped 8% on strong Q1 results.
• Brokerages bullish on growth, citing power grid investments.
• Q1 net profit doubled; revenue climbed 68.6%.

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Hitachi Energy India Ltd shares jumped 8 percent on Monday after the company delivered a stronger-than-expected fiscal first quarter performance. Brokerages remained bullish on its growth prospects amid rising investments in India’s power transmission and grid infrastructure.

The stock rose to over Rs 35,200 in morning trade, emerging as the top midcap gainer on the midcap index. Hitachi Energy India shares had gained 2.2 percent on Friday ahead of the Q1 results. The stock has surged 89.5 percent so far in 2026, even as the Nifty 50 has declined around 6 percent over the same period.

Jefferies maintained its ‘Buy’ rating on Hitachi Energy India stock with a target price of Rs 45,790 per share, implying an upside of more than 40 percent from Friday’s close. The brokerage said Hitachi Energy India’s April-June quarter EBITDA came in 41 percent above its estimates, aided by a 25 percent sales beat. EBITDA margin was 160 basis points higher than expected.

Order inflows, excluding high-voltage direct current (HVDC) orders, grew 26 percent year-on-year, according to Jefferies. The brokerage expects India’s unprecedented investment in power transmission, renewable-energy integration and grid modernisation to drive demand. The expansion of data centres would provide another growth driver for the transmission and distribution sector.

Jefferies expects Hitachi Energy India’s earnings per share to clock a compound annual growth rate of 54 percent over FY26-FY29.

Nomura also initiated coverage on Hitachi Energy India with a ‘Buy’ rating and a target price of Rs 40,030 per share, citing multiple structural themes that could support robust growth. The brokerage expects India’s transmission investment supercycle to amount to around Rs 10 lakh crore over FY26-FY36, driven by the expansion of non-fossil-fuel generation capacity, grid digitalisation and rising electricity demand from artificial intelligence and data centres.

Nomura said Hitachi Energy India is positioned to benefit from opportunities across grid automation services, transport infrastructure and data centres. Energy storage and HVDC integration could provide additional growth avenues, while the company’s leadership in HVDC technology leaves it well placed to benefit from upgrades to mature HVDC stations.

The bullish brokerage commentary follows a strong April-June quarter for Hitachi Energy India. Consolidated net profit more than doubled to Rs 294.2 crore from Rs 132 crore a year earlier, beating the CNBC-TV18 poll estimate of Rs 256.6 crore. Revenue from operations climbed 68.6 percent year-on-year to Rs 2,493.7 crore, comfortably ahead of the poll estimate of Rs 2,075.8 crore. EBITDA more than doubled to Rs 363.5 crore from Rs 154.9 crore, while the EBITDA margin expanded to 14.6 percent from 10.5 percent a year earlier.

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