Rs 99 To Rs 295 In 11 Months: Multibagger Power Stock GE Wins Tata Power Order

Small cap company from the power sector stock, GE Power India Ltd shares witnessed stunning rally of 198% in less than 11 months. The stock was priced Rs 99.2 apiece on March 31 and today (Feb 25, 2024) the stock price is quoted at Rs 295.55 apiece. In the latest development and yet another achievement for the company, it has received a purchase order from Tata Power Company Ltd on February 25, 2024. The time period by which the order needs to completed is 55 days. The size of the order is 6.75 crores (plus GST 18%). Check details below:

GE Power India Shares Performance & Return In Last 5-Years: The 52-week high price of GE Power India shares on BSE is Rs 318.50 and 52-week low price is Rs 97.45 apiece, respectively. The company has a market capitalisation of Rs 1986.91 crore. GE Power India shares witnessed surge of 22% in last 1-month, gave return of 29% year-to-date, soared 82% in last 6-months, gained 153% in 1-year, and surged 86% in last 2-years.

GE Dividend History: The company has not announced any dividends since 2022. Its last dividend was declared in 2021. GE Power India Ltd announced 20 dividends since Oct. 24, 2002.

GE Power India Technical: The stock's RSI is 60.4, RSI below 30 is considered oversold and above 70 overbought. FII/FPI have decreased holdings from 0.23% to 0.11% in Dec 2023 quarter. Number of FII/FPI investors remains unchanged at 36 in Dec 2023 quarter. Mutual Funds have decreased holdings from 3.13% to 2.83% in Dec 2023 quarter. Institutional Investors have decreased holdings from 5.89% to 4.37% in Dec 2023 quarter, according to Trendlyne.

GE Power Financials: The company emerged profitable with net profit of Rs 37 lakh for the quarter ended December 2023 amid decline in expenses. It had announced a net loss of Rs 139.9 crore for the corresponding quarter of last fiscal, as per the BSE filing of the company. Its total income witnessed a dip to Rs 491.2 crore from Rs 544.5 crore reported last year in the similar quarter. Its expenses fell to Rs 493.1 crore in the quarter under review from Rs 563.9 crore in the similar period of last year. The company informed December quarter ended with an order backlog of Rs 3,437.4 crore, down 14.5% as against Rs 4,019.7 crore in December 2022.

GE Power About: GE Power India Limited has strong capabilities in engineering, manufacturing, project management and supply of products and solutions for infrastructure. Its operations include a composite range of activities viz. engineering, procurement, manufacturing, construction and servicing etc.

Disclaimer:

The stock highlights the order win and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.