Power stock which is one of the leading players in the Transmission & Distribution of power hits its 52-week high price upon receiving a work order from Power Grid Corporation of India Limited.
With a market capitalization of Rs. 30,444 Crores, the shares of GE T&D India Limited were trading at Rs. 1,189, up 3.68 percent from its previous day’s close price of Rs. 1,146.80.
GE T&D India Limited has secured orders from Power Grid Corporation of India Limited (PGCIL) to build a State Transmission Asset Management Centre (STAMC) in Odisha, India for Odisha Power Transmission Corporation Limited (OPTCL).
The main intent of building the State Transmission Asset Management Centre is to help Odisha Power Transmission Corporation Limited (OPTCL) operate its grid more efficiently, reliably, and resiliently through real-time grid monitoring and control.
Upon Completion, the substations are planned to be remotely controlled with advanced grid software solutions including Supervisory Control and Data Acquisition, Video Monitoring System, Remote Accessibility System, and Automated Fault Analysis System, which will be installed at four locations across the state of Odisha.
Unifying data from grid assets like substations and transmission lines is expected to enable the proposed State Transmission Asset Management Centre(STAMC) to provide more complete situational awareness to OPTCL, helping them to make better-informed decisions, resolve incidents faster, and optimize resources
Sandeep Zanzaria, MD & CEO of GE T&D India Limited said: “We are thrilled to have been selected for this important project in Odisha, which represents a major milestone in India’s journey towards decarbonization and net zero grids.
Our innovative STAMC will help empower Power Grid Corporation of India Limited (PGCIL) and Odisha Power Transmission Corporation Limited (OPTCL) to optimize their grid operations, continue to integrate renewable energy sources more effectively, and ultimately contribute to a smarter, resilient, and more sustainable grid for the future.”
GE T&D India Limited is one of the leading player in the Transmission & Distribution of power, with a product portfolio ranging from Medium Voltage to Ultra High Voltage for Power Generation, Transmission and Distribution, Industry and Infrastructure markets.
Its revenue from operations grew by 8 percent from Rs. 777 Crores in Q3FY23 to Rs. 839 Crores in Q4FY24, accompanied by profits of Rs. 5 Crores to Rs. 49 Crores.
Written by: Bharath K.S
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