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GE Power Shares Rally 4% on Securing Order from Tata Power

The company said that it had received an order from Tata Power for providing services.

Shares of GE Power India Limited rallied 4% on 26 February after the company announced receiving an order from Tata Power for turbine generation.

In its regulatory filing on 25 February, the company said that it had received an order from Tata Power for providing services towards overhaul and other works for turbine generators for a base value of Rs 6.75 crore, and it has to be executed in 55 days.

On 6 February, the company announced receiving a purchase order from Lanco Anpara Power Limited for the services of 1st Bottom Bar replacement & Bottom Bars refurbishment of 660 megawatt DEC make Generator at Anpara. The order is for a total consideration of Rs 5.46 crore and has to be executed within 35 days.

Earlier on 23 January, the company received an order to supply spares for a 660-megawatt generator Overhaul at NTPC Limited’s Nabinagar Super Thermal Power Station for a consideration of Rs 10.47 crore.

In its quarterly report for October-December, the company reported a net profit of Rs 37 lakh for the quarter from Rs 139.9 crore net loss it had reported in the same quarter last year.

In the last six months, the shares of the company have gained over 85% and have surged more than 170% in the last year, making the stock a multi-bagger.

At 1:26 pm, the shares of GE Power were trading 3.30% higher at Rs 305.20 on NSE.

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