GE Power shares rise 4% on order win from NTPC, BPSL

Shares of GE Power India Ltd rose 4% in early trade today after the firm said it won a Rs 10.47-crore order from NTPC Ltd. GE Power India stock hit an intraday high of Rs 232.30, rising 3.82% against the previous close of Rs 223.75 on BSE. Earlier, the stock opened higher at Rs 229.75 on BSE. Total 0.19 lakh shares of the firm changed hands amounting to a turnover of Rs 44.46 crore on BSE.

Market cap of the firm stood at Rs 1526 crore on BSE. GE Power India shares have a beta of 0.2, indicating very low volatility in a year.

In terms of technicals, the relative strength index (RSI) of the GE Power India stock stands at 54.2, signaling it's trading neither in the overbought nor in the oversold zone. GE Power India shares are trading higher than the 5 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages.

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The order relates to procurement of spares for carrying out class-B inspection of Unit 1 GE to make a 660-MW generator at NTPC Solapur. It has to be executed within 40 weeks, the company said. Bokaro Power Supply Company (BPSCL) has also awarded an order worth over Rs 9.91 crore to GE Power India for the supply of spares for turbine generator. The order is to be executed within one year.

The firm reported a revenue of Rs 364.2 crore for the July-September 2023 quarter against Rs 460.1 crore in the September 2022 quarter. It posted a net loss of Rs 61.9 crore in Q2 FY 2024 compared to Rs 112.6 crore on Y-o-Y basis. Operating losses narrowed to Rs 48.8 crore in Q2 against Rs 124.8 crore in the September 2022 quarter. The stock has gained 62.36% in a year and risen 63.82% in 2023. The power stock touched its 52-week high of Rs 254.35 on December 14, 2023 and fell to a 52 week low of Rs 97.45 on March 28, 2023.