GE Power India shares rise 9% on Rs 243-crore order win

Shares of GE Power India rose over 9% in early trade today after the power generation and transmission equipment maker said it received a letter of intent from NTPC GE Power Services Private Limited. The contract is worth Rs 243.46 crore.  NGSL is Joint Venture Company of GE Power India Limited and NTPC Limited.

It relates to the renovation and modernization of LMZ Steam Turbines of Wanakbori TPS Unit No. 1 (210 MW) & Unit No. 2 (210 MW) for heat rate (Efficiency) improvement & life extension. The time period for the completion of order is 33 months.

GE Power shares gained 9.38% to Rs 430 against the previous close of Rs 393.10 on BSE. Market cap of the firm rose to Rs 2806.75 crore. The firm saw 0.17 lakh shares changing hands amounting to a turnover of Rs 73.26 lakh on BSE.  

The share hit a 52-week high of Rs 430 on  June 21, 2024 and a 52-week low of Rs 153 on July 4, 2023. 

In terms of technicals, the relative strength index (RSI) of GE Power stands at 63.7, signaling it's trading neither in the overbought nor in the oversold zone. The stock has a beta of 1.1, indicating high volatility in a year. GE Power shares are trading higher than the 10 day, 20 day, 50 day, 100 day and 200 day moving averages.

GE Power shares have gained 149.10% in a year and risen 81.37% in 2024.