UP 720% IN A YEAR! HERE'S WHAT PRABHUDAS LILLADHER SAYS ON THIS MULTIBAGGER STOCK AFTER FRESH ORDER WIN
Shares of GE T&D India Ltd hit an upper circuit limit during the trading session on Thursday after the company announced to win orders for 90 million Euros from a global entity. The company was informed about the order win through two separate exchange filing after the market hours on Wednesday.
GE T&D India has bagged an order from GRID SOLUTIONS Middle East FZE, Dubai for supply for supervision of high voltage products for a period of two years amounting to 26 million Euros, said the filing. "The order has been received from the group company and these products will form a part of the overall project being executed by the group company for the end customer," it added.
In another exchange filing, the company said it has bagged an order from Grid Solutions SAS, France for supply for supervision of high voltage products for a period of two years amounting to 64 million euros. Like the first one, this order also falls within related party transactions and the same is done at arm’s length.
Following the announcement, shares of GE T&D India were locked in the upper circuit limit of 5 per cent to Rs 1,723.55 on Thursday, commanding a total market capitalization of close to Rs 44,000 crore. The stock had settled at Rs 1641.50 in the previous trading session Wednesday.
The stock has zoomed more than 720 per cent from its 52-week low at Rs 210 on July 7, 2023. The stock has gained more than 235 per cent in the year 2024 so far, while the stock has gained nearly 30 per cent in the last one month period. The stock is up 670 per cent in the last five years.
Healthy order pipeline in the power market, a strong order book of over Rs 6,000 crore, and management’s focus on margin improvement augurs well for strong revenue and profit growth for GE T&D India, said Amit Anwani Research Analyst Prabhudas Lilladher. "The stock is trading at a P/E of 120
2024-07-04T08:37:58Z dg43tfdfdgfd