Share price of a company engaged in the business of engineering, procurement & construction (EPC) of key equipment for thermal and hydropower plants gained nearly 3% to Rs. 287.45 on Tuesday after the company announced bagging a new order.
With a market cap of Rs. 1,861 crore, shares of GE Power India Ltd. opened at Rs. 281.0 on February 6th, compared to its previous close of Rs. 278.65.
The company has delivered positive returns of more than 45.0 percent in the last six months, compared to nearly 118.42 percent of positive returns in the last one year. So far in 2024, it has given around 21.42 percent of returns.
According to the recent filings on stock exchanges, GE Power India Limited received a purchase order from Lanco Anpara Power Limited, with a total cost of Rs. 5.46 crore plus 18% GST.
The company secured this order for 1st Bottom Bar replacement & Bottom Bars refurbishment of a 660 MW DEC make Generator located at Anpara.
Earlier last month on January 23, the company received a Letter of Intent from NTPC Limited, for the supply of spares for 660 MW generator overhauling at Nabinagar Super Thermal Power Station.
In terms of financials, the revenue from operations of GE Power decreased by 16.5 percent from Rs. 424 crore in Q1 FY23-24 to Rs. 354 crore in Q2 FY23-24, accompanied by a decrease in a net loss to Rs. 62 crore in Q2 FY23-24 from a loss of Rs. 136 crore in Q1 FY23-24.
As of December 2023, FIIs hold 0.11 percent of the shares, whereas DIIs hold 3.87 percent of the shares in the company, aggregating to 3.98 percent of the institutional holdings. The Promoters’ holdings remain unchanged at 68.58 percent.
GE Power India Limited (GEPIL) is involved in the EPC of key equipment for thermal and hydropower plants and manufactures and/or supplies critical electrical and industrial equipment including boilers, turbines and pollution-control equipment for these power plants.
Written by Shivani Singh
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