Nomura, JPMorgan and Jefferies turn bullish on Hitachi Energy India after strong quarter
Three brokers keep buy-type ratings on Hitachi Energy India after a strong September quarter, and the shares rose more than 10% on Friday.
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what happened
Brokerages Nomura, JPMorgan and Jefferies pointed to meaningful room for gains in Hitachi Energy India Ltd shares after the September-quarter report, with some target prices reaching 45,790 rupees. The optimism rests on an 86 percent year-on-year rise in order intake and solid project delivery. The analysts also highlight long-term prospects in HVDC systems, data centres and exports, which they argue justify a premium valuation.
Nomura kept its buy rating with a target of 40,030 rupees, implying roughly 40% upside from Thursday's close. The bank said order inflow beat market expectations by 65% during the quarter. It links the projected earnings growth of about 46% a year over fiscal 2026 to 2029 to steady demand for base orders, HVDC and exports.
JPMorgan reaffirmed its overweight rating with a target of 39,000 rupees, which points to about 36.6% upside. Quarterly revenue came in 13% above the bank's estimates, and margins held steady despite commodity cost pressure and product mix. Jefferies also rates the stock a buy, with a target of 45,790 rupees, suggesting more than 60% upside from current levels. Of 23 analysts tracking the stock, 16 rate it a buy, six a hold and one a sell. Shares traded 10.7% higher on Friday after the results, at 31,590 rupees, and are up about 70% so far in 2026.
why it matters
The share rally after strong results and upbeat broker calls reflects expectations that demand for grid equipment in India will stay firm. For the market, it signals that investors are willing to pay a premium for local manufacturing and exposure to data centre and energy storage projects. The consensus target is noticeably more modest than some individual brokers' figures, so views on the stock's outlook remain divided.
market impact
Hitachi Energy India shares: strong orders and broker support back interest in the stock
- Hitachi Energy India shares pressure up — strong order growth and upbeat broker ratings support demand for the stock
tags
instruments
sources
- Hitachi Energy Share Price Target: Nomura, Jefferies, JPMorgan see upside towards ₹46,000 levels after Q2 — TradingView, 13 November 2026 at 04:23 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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