GE T&D India stock rise: Shares of GE T&D hit the 5-per cent upper circuit in the intraday trade, recording a fresh 52-week high of Rs 1,723.55 per share on the BSE on Thursday.
However, the stocks were off highs and were trading 3.56 per cent higher at Rs 1,700 per share at 13:30 PM. In comparison, BSE Sensex was trading 0.27 per cent higher at 80,203.10 levels.
The uptick in stock price came after the company secured two orders worth Rs 90 million euros.
The company has secured an order worth 26 million euros from Dubai-based Grid Solutions Middle East FZE.
In a separate statement, the company announced that it has secured an order worth 64 million euros from Grid Solutions SAS, France.
Under this deal, GE T&D India will again be responsible for the supply and supervision of high voltage products. The order, however, must be completed in two year, GE T&D India said in a statement.
GE T&D India, the listed entity of GE’s Grid Solutions business in India, boasts over a century of operations in the country and stands as a leader in the power transmission and distribution sector.
The company offers a comprehensive range of solutions designed to efficiently connect power generation sources to the grid, equipping utilities with essential tools to manage increasing demand effectively.
GE T&D India provides a diverse portfolio of products spanning from medium to ultra-high voltage (up to 1200 kV) for the power generation, transmission, and distribution industries. Its offerings include power transformers, circuit breakers, gas insulated switchgears, instrument transformers, substation automation equipment, digital software solutions, turnkey solutions for substation engineering and construction, Flexible AC Transmission Systems (FACTS), High Voltage DC (HVDC) systems, and comprehensive maintenance support.
Operating from 5 manufacturing facilities, GE T&D India claims to be strategically positioned to meet the evolving needs of the industry for reliable grid equipment and services.
The market capitalisation of the company is Rs 43,246.26 crore, according to Bombay Stock Exchange (BSE).
The 52-week low of the stock is Rs 210 apiece.
First Published: Jul 04 2024 | 12:55 PM IST
