GE T&D Share Price Hits 52-Week High After Bagging Orders From Power Grid

The share price of GE T&D India experienced a notable surge of over 4 percent, reaching a peak of Rs 1,198 in early trading on May 2. This surge was catalyzed by the company’s acquisition of orders from the Power Grid Corporation of India. These orders entail the construction of a cutting-edge state transmission asset management center (STAMC) in Odisha, catering to the needs of the Odisha Power Transmission Corporation Limited (OPTCL).

The primary objective of this center is to enhance OPTCL’s grid operations by imbuing them with greater efficiency, reliability, and resilience through the implementation of real-time grid monitoring and control mechanisms, as per the company’s announcement.

In pursuit of this ambitious project, GE T&D India is committed to providing a comprehensive turnkey solution that will encompass hundreds of OPTCL substations. Once finalized, these substations are slated to be equipped with remote control capabilities, facilitated by an array of advanced grid software solutions. These solutions include Supervisory Control and Data Acquisition (SCADA), Video Monitoring System, Remote Accessibility System, and Automated Fault Analysis System. These systems will be strategically installed at four different locations across the state of Odisha.

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Expressing enthusiasm about securing this significant project in Odisha, Sandeep Zanzaria, the Managing Director and CEO of GE T&D India, emphasized its pivotal role in India’s transition towards decarbonization and the realization of net-zero grids. Zanzaria highlighted the innovative nature of the STAMC, underlining its potential to empower both PGCIL and OPTCL in optimizing grid operations, facilitating the seamless integration of renewable energy sources, and ultimately fostering a smarter, more resilient, and sustainable grid infrastructure for the future.

This recent milestone follows another significant achievement by GE T&D India in February 2024, wherein the company secured orders valued at approximately Rs 370 crores from the Power Grid Corporation of India (PGCIL). These orders pertained to the supply of 765 kV Shunt Reactors for various transmission system projects undertaken by PGCIL across India.

At 11:15 AM, GE T&D share price was trading at Rs 1,190 per share on NSE up Rs 46.80 or 4 percent.

Source: moneycontrol

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