Hitachi Energy India gains 5% as board to mull fundraising on January 18

"We wish to inform you that a meeting of the Board of Directors of the Company is scheduled on Saturday, January 18, 2025, to consider and approve the proposal for raising funds," filing read

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Hitachi Energy India shares gained 5.2 per cent in Thursday's trade on BSE, logging an intraday high at Rs 13,330 per share. The buying in the stock came after the company's board to consider fund raising in a meeting on January 18, 2025.

 

Around 11:21 AM, Hitachi Energy share price was up 5.03 per cent at Rs 13,300 per share on BSE. In comparison, the BSE Sensex was up 0.27 per cent at 76,930.69. The market capitalisation of the company stood at Rs 56,388.82 crore. The 52-week high of the stock was at Rs 16,534.5 per share and the 52-week low was at Rs 5,459 per share. 

 

"We wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Saturday, January 18, 2025, inter-alia to consider and approve the proposal for raising of funds," the company's filing read. 

 

The method of raising funds and the amount will be decided after the proposal is approved. The fundraise will be either by way of issuance of equity shares and / or other securities including securities convertible into shares, warrants or fully convertible debentures, partly convertible debentures, nonconvertible debentures along with warrants, or convertible preference shares by way of public issue, rights issue, preferential allotment, private placement, including Qualified Institutions Placements (QIP) in one or more tranches or any other mode or combination thereof. 

 

Hitachi Energy India Q2 results 

In second quarter the company posted over 111 per cent jump in net profit to Rs 52.3 crore as compared to Rs 24.7 crore in the quarter ended on September 30, 2023.

 

According to the statement, the revenue for the July-September 2024 quarter was Rs 1,553.8 crore, 26.5 per cent higher than Rs 1,228.2 crore a year ago on the back of a favourable mix and good order execution during the quarter. 

 

Hitachi Energy India is a subsidiary of Hitachi Energy, a global leader in the energy sector. The company provides innovative solutions in the fields of electrification, automation, and digitalisation. It focuses on advancing the transition to a sustainable energy future by enabling industries and utilities to enhance performance, efficiency, and sustainability.

 

In India, Hitachi Energy operates in several sectors, offering products and services related to power grids, renewable energy, energy storage, and industrial automation. The company also plays a role in India's efforts toward improving energy infrastructure, with a focus on smart grids and clean energy technologies.

 

In the past one year, Hitachi Energy shares have gained 116 per cent against Sensex's rise of 5 per cent.