Shares of this power stock under the ‘small-cap’ category jumped approximately 7 percent in Monday’s trading session after the company successfully bagged orders from NTPC Limited & Hindustan Zinc Limited aggregating to Rs 32.75 crores. In the past six months, the company’s stock has gained nearly 70 percent for its holders.
With a market capitalization of Rs 1,907.92 crores, the stocks of GE Power India Limited started their trading session on Monday at Rs 273.75 and currently trades at Rs 283.80, gaining approximately 7 percent compared to the previous closing levels of Rs 265.35 apiece.
Such bullish share price movements were observed today after the company, through a recent regulatory filing with the Bombay Stock Exchange (BSE), intimated about receiving multiple orders aggregating to Rs 32.75 crores.
Out of the orders mentioned above, the company received a domestic order worth Rs 24 crores (excluding GST) from “NTPC Limited” for the supply of Generator Spares and Turbine Blades for NTPC – Nabinagar. The time period for the execution of the order is decided to be 15 months.
In addition, the company received another domestic order worth Rs 8.75 crores (excluding GST) from “Hindustan Zinc Limited” for Boiler Firing systems at their plant in Chanderiya, Rajasthan. The time period for the execution of the order is decided to be 12 months.
During the recent financial quarters, the company’s basic business parameters, i.e., its operating revenues as well as after-tax profits, showed positive movements.
The former jumped from Rs 354.21 crores during Q2FY24 to Rs 456.22 crores during Q3FY24, and the latter, breaking the loss momentum, reported a shift from a loss of Rs 61.85 crores to a profit of Rs 37 lakhs during the same period.
Keeping a purview of the last one year, the company’s stock delivered multibagger returns jumping approximately 173 percent, i.e., if someone had invested Rs 1 lakh into the company’s stock a year ago, it would have converted to Rs 2.73 lakhs.
According to the latest presentations, the company’s outstanding order book stands at Rs 3,437 crores at the end of Q3FY24. Moreover, the order mix portrays an increased contribution from ‘Steam’, ‘Gas’, and the ‘Flue-Gas Desulfurization’ (FGD) segment.
GE Power India Limited is engaged in the construction, manufacturing, engineering, procurement, and servicing of power plants & equipment in India. The company offers products that include supercritical & ultra-supercritical boilers, environmental control systems, automation systems, high-pressure & beater mills, and gas power systems.
Written by Amit Madnani
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