MULTIBAGGER STOCK GAINS 720%. CHECK PRABHUDAS LILLADHER'S VIEW ON IT
Shares of GE T&D India Ltd saw a significant rise during the trading session on Thursday after the company announced it had won orders worth 90 million Euros from a global entity.
The news was shared through two separate exchange filings after market hours on Wednesday.
GE T&D India has secured an order from GRID SOLUTIONS Middle East FZE, Dubai. This order is for the supply and supervision of high voltage products over two years, amounting to 26 million Euros.
The filing mentioned that this order is from the group company and that the products will be part of a larger project being executed by the group company for the end customer.
In another filing, the company shared it had won an order from Grid Solutions SAS, France. This order is also for the supply and supervision of high voltage products over two years, worth 64 million Euros. Like the first order, this also falls under related party transactions and is conducted at arm's length.
Following these announcements, shares of GE T&D India hit the upper circuit limit of 5%, reaching Rs 1,723.55 on Thursday. This gave the company a market capitalization close to Rs 44,000 crore. The stock had closed at Rs 1,641.50 in the previous trading session on Wednesday.
The stock has seen a remarkable increase of over 720% from its 52-week low of Rs 210 on July 7, 2023. So far in 2024, the stock has gained more than 235%. In the last month alone, it has risen nearly 30%. Over the past five years, the stock has increased by 670%.
Amit Anwani, a Research Analyst at Prabhudas Lilladher, said that a healthy order pipeline in the power market, a strong order book of over Rs 6,000 crore, and the management's focus on improving margins are positive signs for strong revenue and profit growth for GE T&D India. He noted that the stock is currently trading at a P/E ratio of 120.
(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)
2024-07-04T10:34:59Z dg43tfdfdgfd