This small-cap stock jumps up to 7% after the company received an order worth Rs. 25 Cr on Wednesday. The stock has delivered 56% returns in six months and 26% returns in YTD. The strong and rising volume that is above the averages from the preceding day and week is assisting the stock price.
GE Power India Ltd
The company, GE Power India Ltd., belongs to the small-cap category and has a market capitalization of Rs. 1,180 Cr. On Wednesday stock rallied upto 7%, At 14:45 p.m., stocks were trading 3.7% up at Rs. 175.70 on NSE which is 12% below the 52-week high.
According to the company filing, GE Power India Ltd has received a purchase order for Combustion Modification of a Boiler from Vedanta. The value of the is Rs. 25 Cr and the time period for the execution is 14 months.
As per the company filing, the total revenue declined to Rs. 440 Cr in Q1 FY24 from Rs. 520 Cr in Q1 FY23 and for the same period company reported a net loss of Rs. 1,35 Cr against a loss of Rs. 59 Cr.
As of June 2023, Promoters hold 68.58%, the Public holds 22.52%, FIIs hold 0.07% and DIIs hold 8.83% stake in the company.
Construction, engineering, procurement, manufacturing, and servicing of power plants and equipment are all activities that GE Power India Ltd. engaged in. The company sells a variety of goods, including supercritical and ultra-supercritical boilers, beater mills, high-pressure systems, automation systems, and gas power systems.
Written by Sheshadri N
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