Hitachi Energy Shares Reach New Peak, Surge 100% in 2026, Jefferies Forecasts Additional 20% Growth

Hitachi Energy India Shares Hit Fresh All-Time High

Hitachi Energy India shares reached a record level of Rs 37,400 per share on the National Stock Exchange (NSE) during Wednesday's trade, marking a fresh all-time high. The stock has extended its sharp rally to more than 100 percent so far in 2026, with a year-to-date gain of 100.70 percent.

The upsurge in the stock price comes after a strong set of March quarter earnings and bullish commentary from brokerages. Jefferies, a global brokerage, has maintained its 'BUY' rating on Hitachi Energy India and raised its price target to Rs 43,145 from Rs 25,000, implying an upside of about 19.9 percent from the last closing price of Rs 35,995. The brokerage expects demand trends to remain strong, with high-voltage direct current (HVDC) projects supporting margins and growth.

The company has announced additional accelerated capital expenditure of about Rs 2,000 crore towards setting up a large power transformer facility in Vadodara, taking total announced capex to around Rs 4,000 crore. This move is expected to almost double the company's transformer capacity.

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Comparison of Brokerage Ratings and Price Targets

The company's March quarter earnings were led by a beat in revenue and profitability, with order inflows at Rs 18,500 crore for the full year, up 2 percent year-on-year. Motilal Oswal Financial Services said base ordering is expected to improve, driven by opportunities in transmission, renewables, data centres, and exports.

Other brokerages, including Nuvama Institutional Equities and Emkay Global Financial Services, have also revised their ratings and price targets for Hitachi Energy India. Nuvama has maintained its 'hold' rating, citing stretched valuations, while Emkay has downgraded the stock to 'reduce' from 'add'.

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The company posted a nearly 80 percent rise in net profit to Rs 330.5 crore during the March quarter of FY26, mainly on account of higher revenues. Its revenue from operations rose 46.2 percent to Rs 2,754.1 crore from Rs 1,883.7 crore recorded in the fourth quarter of the preceding 2024-25 financial year.

For the entire FY26, the company's net profit rose to Rs 987.8 crore from Rs 384 crore in 2024-25. Revenues from operations also increased to Rs 8,147.7 crore from Rs 6,384.9 crore in FY25. The company's board has approved a final dividend of Rs 8 per share for FY26.

In Q4FY26, exports accounted for 36.8 percent of total orders booked for the quarter. The company received export orders from the US, Europe, and APAC. As of March 31, total orders received stood at Rs 18,456.5 crore.