GE T&D is attracting a lot of attention today; the stock opened today 5% higher at Rs.503.35, which is a new 52-week high and is now trading at Rs.500 levels. Less than 5000 shares have changed hands.
The company announced today morning that it has received an order from UK Grid Solutions for supply and manufacture of HVDC converter transformer. Starting from Dec’23, the order has to be executed by Oct’26.
The order is worth 74 million GBP.
Both entities are part of GE Group and this related party transaction has been approved by shareholders in last Annual General Meeting held on 21 August, 2023.