Shares of thermal and hydropower plant operator GE Power India Ltd rallied 4% on 1 August after the company announced receiving supply orders. 

The company’s shares saw positive activity today after GE Power India Ltd. received two purchase contracts totalling Rs 3.83 crore from Torrent Power Limited and NTPC Limited, respectively, for the delivery of boiler components and services for ESP.

The business has an order backlog of Rs 3,437 crores. In Q3FY23, 62% of the orders were from private organisations and 38% from public corporations. By Q3FY24, the ratio shifted to 60:40, with a higher proportion of orders now coming from government-owned enterprises.

An Indian company called GE Power India Limited specialises in modernising and renovating older power plants, mostly thermal power plants. In addition, they construct, operate, supply, and maintain thermal power plants.

At 12:48 pm, the shares of GE Power India were trading 1.97% higher at Rs 503 on NSE.

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