GE Vernova rises on bagging order worth Rs 500 cr from Power Grid

GE Vernova T&D India rallied 2.29% to Rs 1,391.15 after the company announced that it has secured orders worth Rs 500 crore to supply and install transformers and reactors under the bulk procurement from Power Grid Corporation of India.

Shares of Power Grid Corporation of India gained 3.76% to Rs 263.60 on the BSE.

The project involves the bulk procurement of 765kV class transformers and reactors of various capacities, to be executed within 36 months.

GE Vernova T&D India is a leading player in the power transmission and distribution business. The company provides a versatile and robust range of solutions for connecting and evacuating power from generation sources to the grid, offering utilities the tools needed to swiftly meet increasing demand. It offers products ranging from medium voltage to ultra-high voltage (1200 kV) for the power generation, transmission, and distribution industries.

The Power Grid Corporation of India has been established by the Government of India (GoI) as the central transmission utility of India. The firm is a Maharatna' company under the Ministry of Power, GoI. As of 31 December 2024, the Government of India owned a 51.34% stake in the company.

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