GE T&D India shares locked at upper circuit on order win worth Rs 370 crore

GE T&D India share price was locked at 5 percent upper circuit in the opening trade on February 28 after the company bagged an order worth Rs 370 crore from Power Grid Corporation of India.

There were pending buy orders of 3,678 shares, with no sellers available.

At 09:21am, GE T&D India was quoting at Rs 913.00, up Rs 43.45, or 5.00 percent, on the BSE.

" ..... has secured orders worth approximately Rs 370 crores from Power Grid Corporation of India (PGCIL) for the supply of 765 kV Shunt Reactors for PGCIL’s various transmission system projects in India," the company said in exchange filing.

These projects aim to facilitate the integration of renewable energy into the national electricity grid and enhance electricity transmission within the country, including Rajasthan and Karnataka, it added.

GE T&D India will be responsible for providing the complete equipment package, including design, engineering, manufacturing, testing, erection, and commissioning of the 765 kV class reactors at the designated transmission substation sites. The reactors are scheduled for delivery in FY25-26.

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The company had posted a net profit at Rs 49.35 crore and revenue of Rs 838.98 crore in the quarter ended December 2023.

The share touched a 52-week high of Rs 915.45 and a 52-week low of Rs 98.90 on 27 February, 2024 and 28 February, 2023, respectively.

Currently, the stock is trading 0.27 percent below its 52-week high and 823.15 percent above its 52-week low.