Shares of GE Vernova T&D India shares jumped nearly 8% on Tuesday, after the company emerged as the lowest bidder for a major Power Grid Corporation project. 

The company was selected as the L1 bidder for a 6,000 MW high-voltage direct-current (HVDC) transmission project. The proposed system will transfer renewable power from Barmer II in Rajasthan to South Kalamb in Maharashtra. 

The project will include two converter terminal stations, each with a capacity of 3,000 MW, using line-commutated converter technology. While the company has not disclosed the order value, market reports estimate the overall project at around Rs 13,000 crore. 

However, investors should note that L1 status does not mean the order has been formally awarded. Power Grid still needs to complete the required formalities before issuing the final letter of award.

The development adds to GE Vernova T&D India’s strong long-term growth story. The company reported a 38% year-on-year rise in Q1 FY27 revenue to Rs 1,840 crore, while net profit increased nearly 25% to Rs 362.99 crore. Its order backlog stood at around Rs 20,900 crore at the end of June, providing significant revenue visibility despite a 30% year-on-year decline in new order bookings during the quarter.

The company is also benefiting from India’s growing investment in renewable power transmission and grid infrastructure. HVDC systems are particularly important for moving large amounts of electricity over long distances with lower transmission losses.

At around 12:43 PM on September 8, GE Vernova T&D India shares were trading near Rs 4,756, up about 8.8%.

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