Key Events This Week
2 Feb: Intraday high of Rs 19,050 with 5.14% surge and 12.37% open interest rise
3 Feb: Intraday high near Rs 20,400, upgraded to Buy with Mojo Score 70.0
5 Feb: Open interest spikes 13.6%, price outperforms sector amid steady gains
6 Feb: Intraday high of Rs 21,113.5 with 10.0% surge and 62.95% open interest jump
2 February 2026: Early Week Strength with Intraday High and Rising Open Interest
Hitachi Energy India Ltd began the week on a strong note, surging 5.14% intraday to reach Rs 19,050. The stock closed at Rs 18,980.30, up 0.60%, outperforming the Sensex which declined 1.03% to 35,814.09. This move was supported by a 12.37% increase in open interest in the derivatives segment, signalling fresh bullish bets. The stock traded above its 5-day, 20-day, and 200-day moving averages, though it remained below the 50-day and 100-day averages, indicating some medium-term resistance.
The heavy electrical equipment sector gained 2.57% that day, but Hitachi Energy’s outperformance highlighted its relative strength. The surge in open interest, coupled with a futures value of approximately ₹20,723.47 lakhs and options notional value of ₹3,853.14 crores, underscored active market participation and growing investor interest.
3 February 2026: Upgraded to Buy Amid Technical Momentum and New Intraday High
The stock continued its upward trajectory on 3 February, hitting an intraday high of Rs 20,399.95 and closing at Rs 19,704.20, a 3.81% gain on the day. This marked the second consecutive day of strong gains, with a cumulative two-day return of 9.94%. The stock outperformed the Capital Goods sector’s 4.49% gain and the Sensex’s 2.63% advance.
MarketsMOJO upgraded Hitachi Energy India Ltd’s Mojo Grade from Hold to Buy on 2 February, reflecting improved financials, valuation metrics, and technical indicators. The Mojo Score rose to 70.0, signalling enhanced confidence in the stock’s prospects. The upgrade was supported by robust quarterly results, including a 100.88% surge in net profit and strong operating cash flow of ₹1,493.77 crores.
Technically, the stock traded above all key moving averages, including the 50-day and 200-day, indicating sustained momentum. Despite some mixed signals from MACD and KST indicators, the overall trend shifted to mildly bullish, supported by bullish Bollinger Bands and Dow Theory signals.
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5 February 2026: Continued Open Interest Surge Amid Steady Price Gains
On 5 February, Hitachi Energy India Ltd saw a further 13.6% jump in open interest to 11,422 contracts, alongside a 0.85% price gain to Rs 19,194.10. This outperformance was notable against the sector’s 0.54% decline and the Sensex’s 0.53% fall. The stock traded above all major moving averages, signalling a sustained uptrend.
Despite the rising derivatives activity, delivery volumes declined slightly by 8.99%, suggesting that short-term trading interest was stronger than long-term investor participation in the cash market. The futures segment value reached approximately ₹30,070 lakhs, with options notional value at ₹6,683 crores, reflecting a robust derivatives ecosystem.
The stock’s market capitalisation stood at ₹83,867 crores, with a Market Cap Grade of 2, supporting liquidity for sizeable trades. The divergence between derivatives activity and delivery volumes warrants monitoring for sustainability of momentum.
6 February 2026: Explosive Gains with 10% Intraday Surge and Massive Open Interest Jump
Hitachi Energy India Ltd capped the week with a spectacular 14.30% gain, closing at Rs 21,937.90 after touching an intraday high of Rs 21,113.5, a 10.0% surge on the day. The stock opened with a strong gap up of 8.37%, signalling robust overnight enthusiasm. This performance dwarfed the Sensex’s 0.10% gain and the sector’s decline of 0.17%, underscoring the stock’s leadership within its industry.
Open interest in derivatives soared by 62.95% to 18,923 contracts, accompanied by a record volume of 75,324 contracts. The futures segment alone accounted for ₹1,16,208 lakhs in value, while options notional value reached ₹70,663.99 crores, highlighting intense speculative and hedging activity.
Technically, the stock traded above all key moving averages, confirming a strong bullish trend. The high intraday volatility of 149.22% reflected active trading and price swings. Despite some mixed weekly and monthly technical indicators, the daily momentum and upgraded Mojo Grade of Buy support a positive near-term outlook.
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Daily Price Performance vs Sensex
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-02 | Rs.18,980.30 | +0.60% | 35,814.09 | -1.03% |
| 2026-02-03 | Rs.19,704.20 | +3.81% | 36,755.96 | +2.63% |
| 2026-02-04 | Rs.19,033.05 | -3.41% | 36,890.21 | +0.37% |
| 2026-02-05 | Rs.19,194.10 | +0.85% | 36,695.11 | -0.53% |
| 2026-02-06 | Rs.21,937.90 | +14.30% | 36,730.20 | +0.10% |
Key Takeaways
Strong Price Momentum: The stock’s 16.27% weekly gain far outpaced the Sensex’s 1.51%, driven by multiple intraday highs and a powerful finish on 6 February with a 14.30% single-day surge.
Derivatives Market Activity: Open interest surged dramatically, especially on 6 February with a 62.95% jump, indicating fresh long positions and bullish market positioning. The high derivatives turnover reflects active speculative and hedging interest.
Rating Upgrade and Fundamentals: The upgrade to a Buy rating by MarketsMOJO on 2 February, supported by strong quarterly earnings and improved financial metrics, provided a fundamental catalyst for the rally.
Technical Indicators: While daily moving averages and Bollinger Bands signal bullish momentum, some weekly and monthly indicators such as MACD and KST remain mixed or mildly bearish, suggesting potential short-term volatility.
Liquidity and Market Capitalisation: With a mid-cap market cap grade of 2 and robust liquidity, the stock supports sizeable trades, attracting institutional and retail interest alike.
Sector Outperformance: Despite some sector weakness, Hitachi Energy India Ltd consistently outperformed the Heavy Electrical Equipment sector, highlighting company-specific strength.
Volatility and Beta: The stock’s high beta of 1.20 and intraday volatility of 149.22% on 6 February indicate amplified price swings, requiring investor vigilance.
Conclusion
Hitachi Energy India Ltd’s week was marked by exceptional price gains, robust derivatives market activity, and a significant upgrade in investment rating, all underscoring a strong bullish narrative. The stock’s ability to outperform both its sector and the broader Sensex amidst mixed technical signals highlights its resilience and growing market appeal. While some caution is warranted due to valuation levels and technical nuances, the overall momentum and fundamental backdrop position Hitachi Energy India Ltd as a key player to watch in the heavy electrical equipment sector going forward.
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