GE Vernova T&D India Ltd. shares jumped nearly 7% in Tuesday's trading session after the company said it has been declared the L1 bidder by Power Grid Corporation of India for a major high-voltage transmission project.
Around 9.38 am, the stock was trading at Rs 4,655 apiece on NSE, gaining from its previous close at Rs 4,367.2 per share. The benchmark index, Nifty 50, meanwhile dropped 0.44%.
Investors are tracking the development for its potential to strengthen GE Vernova T&D India's order pipeline, although the company's filing describes the development as an L1 bid and not a final contract award.
GE Vernova T&D L1 Bidder For 6,000-MW Project
According to the company's exchange filing dated Sept. 7, Power Grid has issued a letter informing GE Vernova T&D India that it is the L1 bidder for the design and establishment of a 6,000 MW, ±800 kV High Voltage Direct Current LCC Terminal Station for evacuation of renewable power from Barmer II to South Kalamb.
The project will comprise two 3,000 MW HVDC terminals. GE Vernova T&D India will undertake the design, supply, and execution of the project, according to the filing.
The multi-year execution period could provide revenue visibility once the contract is formally awarded. For now, the market reaction reflects the significance of the project opportunity and its potential to strengthen GE Vernova T&D India's position in large transmission projects.
GE Vernova Stock Price Movement
The stock has been in focus over a long period. It has delivered more than 1200% returns in the past three years, while in 2026 so far, the stock has been up over 46%.
Currently, it is trading at a price-to-earnings multiple of 85.68 times with a market cap of Rs 1,19,192 crore.
Also Read: Glass Wall Systems IPO: Mainboard Issue Opens For Bidding On Sept. 8 — Should You Subscribe?
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
