GE T&D India stock hits 52-week high on strong Q1 earnings

GE T&D India hit the upper circuit on June quarter earnings which came above street expectations.

The firm posted a net profit of Rs 61.6 crore for the first quarter ended June 30, 2017 against a net loss of Rs 197.4 crore in the year-ago period.

At 10:03 am, the stock was trading 19.99 percent or 65.45 points higher at 392.90 level on the BSE. The stock is the top gainer on the BSE.

Around 319,175 shares of the firm were traded and Rs 1,221 lakh worth turnover was recorded on the BSE.

The stock is up 31 percent or 95 points since the beginning of this year. 

The company, formerly ALSTOM T&D India Limited, reported a total income of Rs 1,305.5 crore in the reporting quarter against Rs 937.7 crore in the corresponding quarter of previous fiscal.

Total expenses during the quarter increased to Rs 1,208 crore over Rs 1,180.6 crore in the year-ago period.

GE T&D India is a leading player in the power transmission and distribution business with a product portfolio ranging from medium voltage to ultra high voltage (1,200 kV) for power generation, utility, industry and infrastructure markets.

The firm which is a subsidiary of GE is engaged in offering switchgear of all types, control panels, power transformers, electrical substation projects and services. The company operates through domestic and overseas segments.

Meanwhile, the Sensex was trading 61.15 points or 0.19 percent higher at 32,289 points. The Nifty was up 0.18 percent or 18 points at 9982.85 level.