Back-to-back upper circuit: Heavy buying witnessed in this power transmission company’s stock, gains 460 per cent in just one year!
The Board is likely to announce dividends as well as the financial performance during the company’s board meeting scheduled for next week.
GE T&D is the listed entity of GE’s Grid Solutions business in India. With over 100 years of experience, it has been operating in the power transmission and distribution sector, offering a versatile range of solutions for connecting and evacuating power from generation sources onto the grid. Today the company experienced a significant surge in its share price.
At the start of the day's trading session, the stock opened at Rs 1185.95 per share, compared to the previous day's closing figure of Rs 1130.20 per share on the BSE. Finally, the shares closed at Rs 1186.70 per share on the BSE. The stock has reached the upper circuit price limit of 5 per cent, reflecting strong demand in the market with no sellers willing to offer shares, resulting in potential buyers being unable to make purchases, leading to disappointment among buyers.
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The company's current market capitalisation stands at Rs 30,385 crore, and the stock has generated an impressive return of around 464 per cent in the past one year.
Recent Update
A meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, May 21, 2024, to consider and approve the financial results for the financial year ended on March 31, 2024 (Audited) and for the quarter ended on that date; and to consider the recommendation of dividend, if any.
Financial Performance of GE T&D
As per Quarterly Results in Q4 FY24, the company reported a revenue of Rs 839 crore compared to a revenue of Rs 777 crore, representing a gain of 8 per cent YoY. The company’s operating profit reached Rs 9 crore compared to Rs 46 crore in Q4 FY23. The operating margin stood at 12 per cent. The net profit of the company was Rs 49 crore in Q4 FY24 compared to Rs 5 crore, representing a gain of 880 per cent.
Business Overview of GE T&D
GE T&D India Limited is an India-based company engaged in the power transmission and distribution business. The company's business activity relates to products, projects, and systems for electricity transmission and related activities. Its products and services include power electronics, energy management, high voltage equipment, industrial digital, projects and services, automation and protection, new technologies, and asset management. Its product portfolio ranges from medium voltage to ultra-high voltage (1200 kV) for power generation, transmission and distribution, industry, and infrastructure markets. The company offers a wide range of products and related services that include power transformers, circuit breakers, gas-insulated switchgears, instrument transformers, substation automation equipment, digital software solutions, turnkey solutions for substation engineering and construction, flexible AC transmission systems (FACTS), high voltage DC, and maintenance support.
Investors must keep this Small-Cap multibagger stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.