GE Power India share price rises over 5% on Rs 738-crore order win
BusinessToday.In June 4, 2019
GE Power India share price rose in trade today after the firm said it has bagged a contract worth Rs 738 crore from Aravali Power Company Private Limited. GE Power India share price rose up to 5.19% to hit an intra day high of 930.40 on BSE.
At 2:00 pm, GE Power India share was trading 3.35% or 30 points higher at 914 level.
GE Power India share opened with a gain of 4.58% at 925 level compared to the previous close of 884.50 on BSE.
GE Power India share is trading 1.97% away from its 52-week high of 933 level hit on May 20 this year.
The stock has been gaining for the last five days and has risen 4.70% during the period.
GE Power India share has gained 9.86% during the last one year and risen 10.55% since the beginning of this year.
GE Power share price was trading above its 50-day and 200-day moving average of 889.08 and 831 levels, respectively.
On Monday, shares of GE Power closed 0.59 per cent up at Rs 884.50 apiece on the BSE.
"The contract is for design, engineering, civil work, supply, erection and commissioning of wet FGD (Flue Gas Desulphurisation) systems along with auxiliaries like limestone and gypsum handling system and wet stack on full turnkey basis," GE Power India said.
Aravali Power Company is a joint venture company of NTPC Ltd, Haryana Power Generation Company Ltd and Indraprastha Power Generation Company Ltd.
Edited by Aseem Thapliyal