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GE Power Shares Surge On Winning Orders From NTPC, Hindustan Zinc

The heavy-electric equipment maker got an order worth Rs 24 crore from NTPC for the supply of generator spares and turbine blades. It has to be executed in 15 months.

Ananya Chaudhuri

(Source: GE Power India website)

Shares of GE Power India Ltd. surged over 8% on Monday after it bagged purchase orders from NTPC Ltd. and Hindustan Zinc Ltd.

The heavy-electric equipment maker got an order worth Rs 24 crore from NTPC for the supply of generator spares and turbine blades. It has to be executed in 15 months.

From Hindustan Zinc Ltd., the company received a Rs 9 crore order for renovation and modernisation of boilers, to be executed in 12 months.

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Shares of the company rose as much as 8.59%, the highest level since March 12, before paring gains to trade 6.12% higher as of 11:32 a.m. This compares to a 0.62% advance in the NSE Nifty 50.

The stock has risen 0.68% in 12 months. Total traded volume so far in the day stood at 1.2 times its 30-day average. The relative strength index was at 55.75.

Also Read: Nifty Bank Gains Over 2% In Three Days On HDFC Bank, Kotak Bank Rally

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Ananya Chaudhuri
Ananya Chaudhuri covers financial markets news and trends at NDTV Profit. S... more
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