Multibagger Stock: Hitachi Energy records 144% surge in a year, up 1235% from 2020 low; should you buy?
₹3,725 each. Today, they are trading at ₹9,084, marking an impressive gain of 144%. What's particularly notable is the stock's consistent positive performance, with 10 out of the last 12 months ending with gains, including a substantial 38% increase in April.
Also Read: Why is Indian stock market falling for five straight sessions? — explained with 5 crucial reasons Taking a broader view, the stock has soared by 1235% from its March 2020 low of ₹680. Looking at its annual performance, it yielded returns of 90% in CY20, followed by 96% and 32.48% in the subsequent two years. In CY23, the stock saw a healthy return of 57.27%, and so far, this year, it has surged by 69.47%.
Hitachi Energy India delivers comprehensive energy solutions, ranging from power generation systems to grid stabilisation technologies and energy storage solutions. Hitachi Energy India has emerged as a prominent player in the energy sector through a strategic joint venture between ABB's Power Grids business and Hitachi Ltd. in 2018.
Hitachi Energy is looking to open more global capability centers in India to expand local operations, amid growing energy demand and a push to scale up renewable energy generation in the country, Reuters reported. Also Read: How ABB India became a stock market darling "We are looking at Hyderabad for our GCC and also looking at Pune. It might take six months to one year," said Venu Nuguri, the managing director and CEO of the company's India unit, to Reuters.
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