GE Power India Lands Rs 7.67 Crore Order from Mangalore Refinery

About Order

GE Power India Limited (GPIL) has secured a significant order from Mangalore Refinery and Petrochemicals Limited (MRPL), a prominent domestic entity. This contract strengthens GE Power India’s position in the power equipment supplier market and signifies its continued contribution to the Indian energy sector.

The details of the order reveal that GPIL will be supplying main turbine spares to MRPL. This equipment is crucial for maintaining the optimal functionality and efficiency of MRPL’s turbines, ensuring smooth operations at their refinery. The contract value stands at a base price of Rs 7.67 crore, with an additional 18% GST applicable. Notably, GPIL has 18 months to fulfill the order, demonstrating its commitment to timely project execution.

This contract win for GE Power India reflects a positive development for the company. It not only adds to their order book but also highlights their ability to cater to the specific needs of domestic clients within the energy sector. The successful execution of this project can further solidify GE Power India’s reputation as a reliable and trusted supplier of power equipment solutions.

Share Price Movement

GE Power India (GPIL) is experiencing a strong day on the stock market, with its share price currently at Rs 575.45. This represents a significant increase of 7.25% or Rs 38.90 compared to the previous close of Rs 536.55. Looking deeper at today’s trading activity, the stock opened at Rs 544.15 and reached a high of Rs 583.50, demonstrating a positive momentum throughout the day. The current price sits comfortably above the 52-week low of Rs 154.50, highlighting the recent growth trajectory. The share has a 52-week high of Rs 583.50 and the upper and lower price bands of Rs 643.85 and Rs 429.25 respectively. While today’s surge is impressive, the stock is still trading near its recent peak.

About Company

GE Power India Limited, formerly ALSTOM India Limited, is a leading player in the Indian power generation equipment market, offering a comprehensive portfolio of power generation solutions. With engineering centers in Noida and Kolkata, and manufacturing units in Vadodara, Durgapur, and Shahabad, the company has successfully partnered in modernizing and growing Indian infrastructure. GEPIL produces a third of the world’s electricity, equips 90% of power transmission utilities worldwide, and manages over 40% of the world’s energy through its software.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.