GE Power bucks trend after winning contract

GE Power India rose 2.30% to Rs 870 at 14:58 IST on BSE after the company said it won Rs 142 crore contract for NOx reduction technology across 10 GW of power plants in India.

The announcement was made during trading hours today, 10 April 2019.

Meanwhile, the S&P BSE Sensex was down 244.76 points, or 0.63% to 38,694.46.

On the BSE, 2542 shares were traded in the counter so far compared with average daily volumes of 664 shares in the past two weeks. The stock had hit a high of Rs 884.90 and a low of Rs 845 so far during the day. The stock hit a 52-week high of Rs 954 on 10 May 2018. The stock hit a 52-week low of Rs 666 on 11 October 2018.

GE Power India announced that it has been awarded a Rs 142 crore order by NTPC for supply and installation of low NOx combustion system for 10 GW of thermal power plant capacity across the country. This is the first project awarded on such a large scale by NTPC to install low NOx combustion technology at its thermal power plant fleet.

The project involves in-combustion system modification of the boiler by staging the combustion air in the furnace to reduce the generation of fuel and thermal NOx during the combustion process. The combustion modification technology can help reduce 30-40% of NOx emissions from these coal-fired boilers up to a level of less than 400 mg/Nm3 at 6% oxygen (O2) content in flue gas on dry gas basis at induced draft (ID) fan outlet.

GE Power India reported net profit of Rs 41.11 crore in Q3 December 2018 as against net loss of Rs 42.13 crore in Q3 December 2017. Net sales rose 50.99% to Rs 551.57 crore in Q3 December 2018 over Q3 December 2017.

GE Power is a world energy leader providing equipment, solutions and services across the energy value chain from generation to consumption.

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