Hitachi Energy’s Stock Price Surges By 3% After Contract For Renewable Power – News18

The stock of Hitachi Energy India Ltd experienced a 3 per cent increase following the announcement of its successful win for a contract from Ayana Renewable Power. This contract is about the provision of a grid connection solution for Ayana’s upcoming 300-megawatt solar photovoltaic power plant in Bikaner.

Consequently, Hitachi Energy’s stock price surged by 2.99 per cent, reaching a peak of Rs 4,598, compared to its previous closing price of Rs 4,464.20 on the BSE. Yesterday, the share was trading at Rs 4,655.45 with a rise of 1.92 per cent at 11 a.m.

In the last three years, Hitachi Energy has given tremendous returns, especially to those who invested Rs 1 lakh and have now become a millionaire. In just the last five months, the stock has given 50 per cent of profits to investors. Market experts are predicting that this stock will further make profits in the future.

Hitachi Energy shares commenced trading at a higher price of Rs 4,470. A total of 2,208 shares from the company changed hands, resulting in a turnover of Rs 1 crore on the BSE. This led to an increase in the firm’s market capitalization, which now stands at Rs 19,413 crore.

Over one year, Hitachi Energy’s stock has witnessed a robust gain of 21.62 per cent, and since the beginning of the current year, it has surged by an impressive 36.58 per cent. In the shorter time frame of one month, the stock has also seen a commendable increase of 6.35 per cent.

Hitachi Energy Limited was formerly known as ABB Power Products. This company was formed in the year 2019 and is establishing itself in the domestic market in project, design and execution. Now the company is also working on engineering, procurement and construction management packages.