GE Power surges over 5% on winning BHEL's contract

Shares of GE Power India today surged over 5 per cent on bourses after the company announced winning a contract of nearly Rs 271.1 crore from BHEL in Tamil Nadu.
On BSE, the stock ended the day at Rs 476, up 5.34 per cent from its previous close. After opening at Rs 471, it soared 7.24 per cent to touch an intra-day high of Rs 484.55.
Following the upsurge, the market capitalisation of the company increased by Rs 162.4 crore to Rs 3,200.03 crore.
The scrip ended the day on NSE at Rs 480, up 5.16 per cent from the previous close. It had opened at Rs 470 and jumped 6.01 per cent to an intra-day high of Rs 483.90.

On the volume front, a total of 23,814 shares of the company exchanged hands on bourses.
In a BSE filing, GE Power India said it has been "awarded a contract worth approximately Rs 271.1 crore by BHEL to supply components and services for the supercritical steam generator island packages for 2x800 MW coal-based Uppur Thermal Power Project and 1x800MW coal-based North Chennai Supercritical Thermal Power Project Stage-III."
"Both the thermal power projects are located in Tamil Nadu. This is in line with the government's focus on upgrading the power infrastructure in the country," it added.