On the BSE, the price of GE Vernova T&D shares surged 11% to reach the day's high of ₹3250. With today's increase, the stock is only 2% behind the 52-week high of ₹3,323.70 that it reached earlier in November of this year.
Following an order win from Adani Energy Solutions Limited (AESL), a member of the Adani group, multibagger stock GE Vernova T&D India saw an 11% increase in intraday trading on Monday, December 22. The BSE 200 stock has gained 13.33% over the past two days.
On the BSE, the price of GE Vernova T&D shares surged 11% to reach the day's high of ₹3250. With today's increase, the stock is only 2% off the 52-week high of ₹3,323.70 that it achieved earlier in November this year.
Details of the GE Vernova order win
In an exchange filing on Saturday, the business said that AESL Projects had been granted a contract to design and build a 2500 MW, ± 500 kV High Voltage Direct Current (HVDC) VSC Terminal Station (2x1250 MW) for the evacuation of renewable power from KPS 3 (Khavda) to South Olpad.
The instruction must be carried out over a number of years.
Although the order size was not disclosed by the company, domestic brokerage Nuvama Research expects it to be between ₹8000 and 10,000 crore.
According to Nuvama Research, GVTD is currently sitting on its largest order backlog of ₹13100 crore, which offers great revenue visibility over the next 30 to 36 months.
Along with a steady base order inflow pace of ₹6000–7000 crore annually and extra upside from exports (25–30% mix), the recent success of the Khavda–South Olpad HVDC project further enhances visibility.
It projects that its FY28–29 anticipated earnings might increase by 20–30% with a 3–4 year execution profile, which would raise its current target price of ₹3,680 (60x FY28E EPS).
"With two more LCC HVDC orders expected over the next 12-18 months — a race between Hitachi Energy and GVTD (as Siemens Energy is only in VSC) - further growth optionalities remain," it stated.
Trends in the share price of GE Vernova
GE Vernova T&D, a multibagger stock, has increased by 53% so far this year, making gains in nine of the twelve months. Following a decline in January and February, the manufacturer of heavy electric equipment saw eight consecutive months of growth until October, which ended last month when the stock fell 5% in November.
In contrast, GE Vernova has become a multibagger stock over a longer period of time—two years—zooming 580%. In contrast, it has increased by 2739% during the past three years.
The share price of GE Vernova T&D India increased by 5.70% to ₹3094.10 as of 10.10 am.
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