GE Vernova surges 11% as stock analysts up targets post Adani Energy order win
GE Vernova share price today: The stock climbed 11.02 per cent to hit a high of Rs 3,250 on BSE. With this, the scrip is up 54.60 per cent year-to-date.
- Dec 22, 2025,
- Updated Dec 22, 2025 10:01 AM IST
Shares of GE Vernova T&D India climbed as much as 11 per cent in Monday's trade, as stock analysts revised upward their target prices, thanks to a mega order win that raised revenue visibility for the firm. The Khavda-South Olpad HVDC (VSC) project win from Adani Energy Solutions' arm, AESL Projects, is estimated to be worth Rs 8,000-10,000 crore, which is meaningful given GE Vernova's existing order book of Rs 13,100 crore and FY26 estimated sales of Rs 5,500-6,000 crore, said Nuvama.
The stock climbed 11.02 per cent to hit a high of Rs 3,250 on BSE. With this, the scrip is up 54.60 per cent year-to-date.
"With a 3-4 year execution profile, we estimate there could be a 20-30 per cent upside to our FY28-29 estimated earnings (await clarity on order size etc), with consequent upside to our current target of Rs 3,680 (60x FY28E EPS). With two more LCC HVDC order expected over next 12-18 months – a race between Hitachi Energy and GVTD (as Siemens Energy is only in VSC) - further growth optionalities remain," Nuvama said.
The Khavda phase III project has an overall project size at Rs 12,000 crore. This project would help evacuate 2.5 GW of renewable energy from Khavda to South Olpad.
Earlier GV T&D also received order from PGCIL for refurbishment of 2x500 MW HVDC chandrapur line, which involved design, supply and refurbishment of line between the southern and northern part of India and upgrade of HVDC thyristor valves and HVDC control and protection with execution timelines of three years.
"Few more large-ticket HVDC orders are expected to be finalized in the medium term, potentially benefiting GV T&D which with its maiden HVDC order wind has reinforced its positioning in the HVDC market. We believe that GV T&D will deliver strong earnings growth of 41 per cent CAGR over FY25-28E supported by already strong order backlog," said Antique Stock Broking.
This brokerage retained 'Buy' rating with a target price of Rs 3,596.
Emkay Global maintained its broad estimates, as the South Olpad project was already factored into its FY26 order inflow assumptions of Rs 17,000-17,500 crore, including base orders. Looking ahead, the healthy order book mix and strong tender pipeline, highlighted by the near-term Barmer-II to South Kalamb (LCC) opportunity, along with a steady base HVDC business and clear focus on margin improvement underpin Emkay's confidence on GVTD’s robust earnings growth trajectory.
"Incremental comfort also comes from improving export visibility, reinforcing our positive outlook," it said.
Shares of GE Vernova T&D India climbed as much as 11 per cent in Monday's trade, as stock analysts revised upward their target prices, thanks to a mega order win that raised revenue visibility for the firm. The Khavda-South Olpad HVDC (VSC) project win from Adani Energy Solutions' arm, AESL Projects, is estimated to be worth Rs 8,000-10,000 crore, which is meaningful given GE Vernova's existing order book of Rs 13,100 crore and FY26 estimated sales of Rs 5,500-6,000 crore, said Nuvama.
The stock climbed 11.02 per cent to hit a high of Rs 3,250 on BSE. With this, the scrip is up 54.60 per cent year-to-date.
"With a 3-4 year execution profile, we estimate there could be a 20-30 per cent upside to our FY28-29 estimated earnings (await clarity on order size etc), with consequent upside to our current target of Rs 3,680 (60x FY28E EPS). With two more LCC HVDC order expected over next 12-18 months – a race between Hitachi Energy and GVTD (as Siemens Energy is only in VSC) - further growth optionalities remain," Nuvama said.
The Khavda phase III project has an overall project size at Rs 12,000 crore. This project would help evacuate 2.5 GW of renewable energy from Khavda to South Olpad.
Earlier GV T&D also received order from PGCIL for refurbishment of 2x500 MW HVDC chandrapur line, which involved design, supply and refurbishment of line between the southern and northern part of India and upgrade of HVDC thyristor valves and HVDC control and protection with execution timelines of three years.
"Few more large-ticket HVDC orders are expected to be finalized in the medium term, potentially benefiting GV T&D which with its maiden HVDC order wind has reinforced its positioning in the HVDC market. We believe that GV T&D will deliver strong earnings growth of 41 per cent CAGR over FY25-28E supported by already strong order backlog," said Antique Stock Broking.
This brokerage retained 'Buy' rating with a target price of Rs 3,596.
Emkay Global maintained its broad estimates, as the South Olpad project was already factored into its FY26 order inflow assumptions of Rs 17,000-17,500 crore, including base orders. Looking ahead, the healthy order book mix and strong tender pipeline, highlighted by the near-term Barmer-II to South Kalamb (LCC) opportunity, along with a steady base HVDC business and clear focus on margin improvement underpin Emkay's confidence on GVTD’s robust earnings growth trajectory.
"Incremental comfort also comes from improving export visibility, reinforcing our positive outlook," it said.