# JPMorgan has initiated coverage on India's power equipment space with a bullish stance.

*business · news · 2026-04-09 · NDTV Profit*

## Key points

- JPMorgan has initiated Overweight ratings on Hitachi Energy India and GE Vernova with specific target prices.
- India's HV power equipment sector is entering a multi-year growth phase due to renewable grid expansion.
- Large-scale HVDC projects are expected to create multi-billion-dollar order opportunities for domestic players.
- Indian manufacturers are increasingly becoming global suppliers, driven by export demand and cost advantages.
- An oligopolistic HVDC market structure and export growth could lead to margin expansion beyond expectations.

**Companies:** Hitachi Energy India, GE Vernova, Siemens Energy India
**Countries:** India

[Read the full story on NDTV Profit](https://www.ndtvprofit.com/markets/power-equipment-stocks-hitachi-ge-vernova-get-bullish-calls-from-jpmorgan-check-targets-11331924)

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