Share price of this small-cap stock jumped by nearly 5.8% on BSE to Rs. 256.55 in the morning trading session of March 21st, from its previous close of Rs. 242.5, after the company announced winning two purchase orders.
With a market capitalisation of Rs. 1,719.3 crores, at 11:22 a.m. the shares of GE Power India Limited were trading in the green at Rs. 255.15, up by nearly 4.87 percent.
In the last one year, GE Power India Limited has delivered about 149.4 percent of multibagger returns and nearly 43.06 percent in the last six months. So far in 2024, it has delivered positive returns of around 12.2 percent.
According to recent regulatory filings with the stock exchanges, GE Power India Limited received purchase order from Bharat Aluminium Company Limited (BALCO) and Nuclear Power Corporation of India Limited (NPCIL), Tarapur, Maharashtra Site, for a total of Rs. 16.42 crore.
Bharat Aluminium Company Limited has placed an order for Rs. 8.95 crore for the repair and maintenance (R&M) of the Boiler Firing system at BALCO’s Korba plant in Chhattisgarh. The project is scheduled to be completed within 10 months.
Another order from NPCIL for Rs. 7.47 crore covers the engineering, supply, construction, commissioning, and testing of the Static Excitation System, with a 12-month completion time.
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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