GE T&D India was locked in 20% upper circuit at Rs 392.90 at 13:59 IST on BSE after the company reported net profit of Rs 61.67 crore in Q1 June 2017 as compared with net loss of Rs 197.41 crore in Q1 June 2016.
The result was announced after market hours yesterday, 25 July 2017.Meanwhile, the S&P BSE Sensex was up 111.51 points, or 0.35% at 32,339.78. The S&P BSE Mid-Cap index was up 32.20 points, or 0.21% at 15,344.80.
On the BSE, 3.55 lakh shares were traded on the counter so far as against the average daily volumes of 36,686 shares in the past one quarter. The stock opened with an upward gap, and soon surged by the maximum 20% daily circuit and remained locked at the 20% level at Rs 392.90 so far in the day, also its 52-week high. The stock had hit a low of Rs 350 so far during the day. The stock had hit a 52-week low of Rs 277.05 on 7 March 2017.
The stock dropped 4.27% over the past one month till 25 July 2017, underperforming the Sensex's 3.5% rise. The scrip had also underperformed the market in past one quarter, declining 4.14% as against Sensex's 7.63% rise. The scrip also underperformed the market in past one year, falling 8.32% as against Sensex's 14.71% rise.
The mid-cap company has equity capital of Rs 51.21 crore. Face value per share is Rs 2.
GE T&D India's total income rose 41.06% to Rs 1251.46 crore in Q1 June 2017 over Q1 June 2016. Operating profit stood at Rs 130 crore in Q1 June 2017 as against operating loss of Rs 170 crore in Q1 June 2016. New order bookings jumped 99% to Rs 1580 crore in Q1 June 2017 over Q1 June 2016.
Sunil Wadhwa, Managing Director of GE T&D India said that the company is well positioned with an order backlog of over Rs 8420 crore as of 30 June 2017.
GE T&D India is a leading player in the power transmission & distribution business with a product portfolio ranging from medium voltage to ultra high voltage (1200 kV) for power generation, utility, industry and infrastructure markets.
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