Share price of this small-cap stock jumped by nearly 3.2% on NSE to Rs. 296.95 in the morning trading session of March 11th, from its previous close of Rs. 287.75, after the company announced winning an order.
With a market capitalisation of Rs. 1,879.6 crores, in the last one year, GE Power India Limited has delivered about 149.4 percent of multibagger returns and nearly 53.68 percent in the last six months. So far in 2024, it has delivered positive returns of around 22.78 percent.
According to recent regulatory filings with the stock exchanges, GE Power India Limited has bagged a purchase order from The West Bengal Power Development Corporation Limited.
The order received by the company is for the supply and installation of parts for the Electrostatic Precipitator in the Sagardighi Thermal Power Project.
The order is valued at Rs. 9.53 crore plus 18% GST, with 6 months of the time period by which the order is to be executed.
In terms of financials, the company’s revenue from operations grew by 28.8% from Rs. 354.21 crores in Q2 FY23-24 to Rs. 456.22 crore in Q3 FY23-24, accompanied by an increase in the net profit of 100.6% to Rs. 0.37 crore in Q3 FY23-24 from a loss of Rs. 61.85 crore in Q2 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.
GE Power India Limited, one of the leading players in the Indian power generation equipment market, is engaged in the business of engineering, procurement & construction (EPC) of key equipment for thermal and hydropower plants.
It manufactures and/or supplies electrical and industrial equipment such as boilers, turbines and pollution-control equipment for these power plants.
Written by Shivani Singh
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