GE Power receives contract of Rs. 738.3 crore

GE Power India Limited has received a contract worth Rs. 738.3 crore from Aravali Power Company Private Limited. It includes design, engineering, supply, civil work, erection and commissioning of WET FGD (Fuel Gas Desulphurization) systems along with auxiliaries like Limestone and Gypsum Handling System and Wet Stack on full turnkey basis

GE Power India is a publicly-owned company with engineering centers in Noida and Kolkata. The company engages in manufacturing, engineering, construction of power plants and power equipments. Aravali Power Company Private Limited is a joint venture of NTPC, Haryana Power Generation Company and Indraprastha Power Generation Company.

The announcement was made after market hours on Monday. Reacting to this announcement, on Tuesday, the stock of GE Power India was trading at Rs. 912.05 per share which is 3.11 per cent more than the last closing price of Rs. 884.50. The 52-week high is Rs. 933 and 52-week low is Rs. 666 on the BSE. 

Meanwhile, on Tuesday's post lunch session, the benchmark indices BSE Sensex was at 40,172.16, down by 95.46 points which is 0.24 percent and Nifty50 was at 12,038.70, down by 43.90 percent which is 0.36 percent.