Hitachi Vitality surges 5% on bagging new work order price Rs 790 cr

Illustration: Binay Sinha

2 min learn Final Up to date : Jun 25 2024 | 12:14 PM IST

Hitachi Vitality’s shares zoomed as much as 5.3 per cent at Rs 12,220 per share on the BSE in Tuesday’s intraday commerce. This got here after the corporate on Tuesday stated that it has obtained a piece order valued at Rs 790 crore from Hitachi Vitality Australia, a fellow subsidiary of the corporate for provide of sure gear in Australia.

The availability will likely be used for execution of the undertaking, ‘Burnie Converter Station and Latrobe Valley Converter Station’.

“Marinus Hyperlink chosen Hitachi Vitality to produce a HVDC undertaking in Australia. Hitachi Vitality will provide its HVDC Gentle VSC stations for the undertaking. Supply of sure gear will likely be executed from the corporate’s manufacturing facility in India,” the corporate stated in an alternate submitting on Tuesday.

Marinus Hyperlink is a undertaking of nationwide significance for Australia. It should play a elementary position in Australia’s vitality ecosystem, the corporate stated.

Hitachi Vitality reported a big 123.82 per cent year-on-year (Y-o-Y) improve in internet revenue, reaching Rs 113.7 crore for the fourth quarter ending March 31, 2024. In the identical quarter of the earlier 12 months, Hitachi Vitality India had reported a internet revenue of Rs 50.8 crore.

The corporate’s income from operations additionally confirmed a sturdy development of 27.1 per cent, amounting to Rs 1,695.3 crore in comparison with Rs 1,334 crore within the corresponding interval of the earlier fiscal 12 months.

At 11:55 PM; the share of the corporate was 3.39 per cent increased at Rs 11,995 per share on the BSE. By comparability, the BSE Sensex was buying and selling 0.31 per cent increased at 77,582 ranges.

The shares of Hitachi Vitality are presently buying and selling at a worth to earnings a number of of 300.21 occasions with an incomes per share of Rs 38.64.

Hitachi Vitality supplies merchandise, methods, and companies throughout the facility grid worth chain, specializing in enhancing the reliability, effectivity, and sustainability {of electrical} networks. Its choices embrace grid automation, high-voltage merchandise, transformers, grid integration, digital options, and consulting companies.

First Revealed: Jun 25 2024 | 12:14 PM IST