GE Power gains after bagging purchase orders from BALCO, NPCIL

GE Power India advanced 3.07% to Rs 249.95 after the company announced that it has received a purchase order from Bharat Aluminium Company (BALCO) and Nuclear Power Corporation of India (NPCIL), Tarapur, Maharashtra.

The scope of the BALCO contract involves D&E, supply and E&C of boiler firing system at the companys Korba plant that is located in the state of Chhattisgarh. The project has to be executed within a period of 10 months.

The NPCIL contract involves supply & installation of excitation system for 248 MVA machine at unit-1 and unit-2 of Tarapur Atomic Power Station (TAPS). The project has to be executed within a period of 12 months.

GE Power India is one of the leading players in the Indian power generation equipment market. Hydro and Gas business are also housed in the company in addition to Steam Power. The company offers a comprehensive portfolio of power generation solutions with a focus on emissions control and services portfolio providing sustainable, affordable and reliable electricity.

The company had reported a consolidated net profit of Rs 0.37 crore in the quarter ended December 2023 as against net loss of Rs 139.29 crore during the previous quarter ended December 2022. Sales declined 14.35% to Rs 456.22 crore in Q3 FY24 over Q3 FY23.

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