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      GE Power India gains after securing new order

      MoM Team / Mumbai, Jan 06, 2017 12:01 PM IST

        GE Power India gains after securing new order

        GE Power India rose 1.7 percent to Rs 527 on BSE after the company said its has secured contract worth about Rs 199 crore from NTPC ALSTOM Power Services.

        The announcement was made after market hours yesterday, 5 January 2017.

        Meanwhile, the S&P BSE Sensex was down 12.06 points or 0.04 percent at 26,866.18.

        On the BSE, 1,146 shares were traded on the counter so far as against the average daily volumes of 1,617 shares in the past one quarter. The stock had hit a high of Rs 545 and a low of Rs 525 so far during the day.

        The stock had hit a 52-week high of Rs 689.15 on 8 January 2016 and a 52-week low of Rs 440.50 on 21 November 2016. The stock had outperformed the market over the past one month till 05 January 2017, advancing 8.26 percent compared with the Sensex's 2.01 percent rise.

        The scrip had also outperformed the market over the past one quarter, declining 3.79 percent as against the Sensex's 4.76 percent fall.

        The mid-cap company has equity capital of Rs 67.23 crore. Face value per share is Rs 10.

        GE Power India announced that it has been awarded a contract by NTPC ALSTOM Power Services (a 50:50 joint venture between NTPC & GE) of approximately Rs 198.80 crore including duties and taxes for steam turbine upgrade project at NTPC's Ramagundam super thermal power plant in Telangana. The company's scope of work consists of supply of steam turbine module, its auxiliaries, turbine controller and spares including supervision of erection, commissioning and testing, GE Power India said.

        GE Power India reported net loss of Rs 97.10 crore in Q2 September 2016, higher than net loss of Rs 48.02 crore in Q2 September 2015. Net sales declined 9.8 percent to Rs 477.65 crore in Q2 September 2016 over Q2 September 2015.

        GE Power India is engaged in power generation with deep domain expertise to help customers deliver electricity from a wide spectrum of fuel sources.

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      Source: Capital Market

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