Hitachi Energy India advanced 3.03% to Rs 11,953 after it bagged an order from its fellow subsidiary, Hitachi Energy Australia towards execution of project worth Rs 790 crore.
The project constitutes execution of Marinus Link voltage source converter (VSC) high voltage direct current (HVDC) links between Tasmania and Victoria for supply of certain equipment for execution of the project - Burnie Converter Station and Latrobe Valley Converter Station.Marinus Link is a project of national significance for Australia. It will play a fundamental role in Australias energy ecosystem, and the company will play a crucial role in supporting it.
The order is scheduled to be executed over a period of four years and the cost of project is Rs 790 crore.
Hitachi Energy India is the world's leading provider of grid connections and power quality solutions, with an installed base of more than 10,000 projects worldwide, over 800 of which connect renewable energy sources to the grid. In India, Hitachi Energy operates under the legal entity name Hitachi Energy India (formerly known as ABB Power Products and Systems India).
Hitachi Energy India reported 123.69% jump in net profit to Rs 113.66 crore on 27.08% increase in revenue from operations to Rs 1,695.28 in Q4 FY24 over Q4 FY23.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
