GE Power Gains Over 3%; Hits 3-yr High On LoI From NTPC
The order includes renovation and modernisation of LMZ Steam Turbines of Wanakbori TPS units for heat rate (Efficiency) improvement and life extension
The stocks of GE Power India gained over 3 per cent in the Friday trading session after the power equipment manufacturer notified that it received a letter of intent from NTPC GE Power Services (NGSL).
GE Power India stocks traded with 3.45 per cent gain at Rs 406 in the morning session on the National Stock Exchange (NSE).
The order included renovation and modernisation of LMZ Steam Turbines of Wanakbori TPS Unit No. 1 (210 MW) and Unit No. 2 (210 MW) for heat rate (Efficiency) improvement and life extension.
The order worth Rs 243 crore is expected to be completed within 33 months.
NGSL is a joint venture company of GE Power India (GEPIL) and NTPC. NGSL participated in this bid as lead bidder and GEPIL participated as JV/ consortium partner.
GEPIL shall be responsible for all the critical supplies including design and engineering, testing and commissioning of system
In terms of stock performance, GE Power has clocked nearly 80 per cent gain in 2024 so far.
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