GE Power scales fresh 52-week high on bagging Rs 818 crore order

Shares of GE Power India advanced over 6 per cent in morning trade and scaled their fresh 52-week high of Rs 915 after the company informed bourses that it has received a contract worth Rs 818.30 crore by Navayuga Engineering Company.

Shares of the company opened at Rs 891 and touched a high and low of Rs 915 and Rs 873, respectively, eventually closing at Rs 878.70, up 3.13 per cent.

In a BSE filing, the company said, “GE Power India Limited has been awarded a contract worth approximately INR 8183 million (i.e. approximately US $ 126 million) by Navayuga Engineering Company Limited to Design, Engineering, Manufacturing, Supply, erection, testing and commissioning of 12 Nos., 80 MW capacity Vertical full Kaplan Turbine generator units along with all associated auxiliary and ancillary equipment.”


On the BSE, 26,000 shares were traded on the counter so far as against average daily volumes of 8,795 shares in the past two weeks.

Shares of the company hit their 52-week low of Rs 516 on January 16, 2017.