GE Power India jumped 3.41% to Rs 406.50 after the power generation and transmission equipment maker said it has received a letter of intent (LoI) from NTPC GE Power Services (NGSL) for renovation of steam turbines.
The order includes 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 contarct is valued at Rs 2,434,636,179 and is expected to be completed within 33 months.
NGSL is 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 & engineering, testing and commissioning of system.
GE Power India is one of the leading players in the Indian power generation equipment market. Hydro and Gas business are also housed in the company in addition to Steam Power. The company offers a comprehensive portfolio of power generation solutions with a focus on emissions control and services portfolio providing sustainable, affordable and reliable electricity.
The electric utility company reported a consolidated net profit of Rs 25.94 crore in Q4 FY24 as against a net loss of Rs 129.7 crore in Q4 FY23. Revenue from operations rose by 13.43% year on year (YoY) to Rs 390.76 crore in the fourth quarter of FY24.
The counter hit a 52-week high of Rs 430 in todays intraday session.
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