GE Power is on a roll today. The stock’s intraday low at Rs.282 itself is 1.2% higher than yesterday’s close at Rs.476.35. It opened at an intraday high at Rs.500.05.
The sudden surge of interest on the counter is on account of a new order receipt.
Yesterday evening the company stated that it has been awarded a contract by NTPC for its Feroze Gandhi Unchahar Thermal Power Project Stage-I, II & III, 5x210 MW.
This is to supply and install Wet FGD systems and the order is valued at Rs.690 crore.
This is the first time that GE in India has been awarded a project to install common absorber for a combination of multiple boiler units. The project will be located in Unchahar, Uttar Pradesh.
The project intends to remove SO2 from flue gas generated by coal fired boilers in the respective plants in order to comply to environmental new emission norms issued.