GE Power India spurts after winning order

GE Power India surged 6.58% to Rs 908.10 at 10:53 IST on BSE after the company said it was awarded a contract worth approximately Rs 818.30 crore by Navayuga Engineering Company.

The announcement was made after market hours yesterday, 10 January 2018.

Meanwhile, the S&P BSE Sensex was up 0.44 points, to 34,433.51. The S&P BSE Mid-Cap index was up 82.89 points, or 0.46% to 18,201.13.

On the BSE, 29,000 shares were traded in the counter so far, compared with average daily volumes of 8,795 shares in the past two weeks. The stock had hit a high of Rs 915 and a low of Rs 881.80 so far during the day.

GE Power India said that it was awarded a contract worth approximately Rs 818.30 crore (i.e. approximately $126 million) by Navayuga Engineering Company to design, engineering, manufacturing, supply, erection, testing and commissioning of 12 Nos., 80 MW capacity vertical full Kaplan Turbine generator units along with all associated auxiliary and ancillary equipment.

GE Power India reported net profit of Rs 6.56 crore in Q2 September 2017 as against net loss of Rs 97.10 crore in Q2 September 2016. Net sales declined 45.4% to Rs 261.95 crore in Q2 September 2017 over Q2 September 2016.

GE Power India is engaged in power generation with deep domain expertise to help customers deliver electricity from a wide spectrum of fuel sources.

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