BUZZ-Hitachi Energy India, GE Vernova rise after J.P.Morgan assigns 'overweight'

Reuters04-09
BUZZ-Hitachi Energy India, <a href="https://laohu8.com/S/GEV">GE Vernova</a> rise after J.P.Morgan assigns 'overweight'

** High voltage (HV) power equipment makers Hitachi Energy India HITN.NS and GE Vernova GETD.NS rise 2% and 4% respectively, while Siemens Energy SIEE.NS drops 0.7%

** J.P.Morgan initiates coverage with "overweight" on HITN, GETD and "neutral" on SIEE

** Projects 12% upside for HITN, 15.4% for GETD by March 2027, 3.8% downside for SIEE

** Says HV power equipment makers in "decadal upcycle" driven by India's 470 GW solar, wind capacity addition plan

** Notes high voltage direct current (HVDC) adoption, rising order books as sector positives

** Brokerages says preference framework within sector is based on revenue visibility, localisation plus HVDC capability, margin improvement visibility

** YTD, HITN up 44.6%, GETD gains 24.3%, SIEE rises 5.1%

(Reporting by Bharath Rajeswaran in Bengaluru)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))

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