GE Vernova T&D India share price jumped as much as 7% on NSE in Tuesday’s trading session after the company announced that it had emerged as L1 bidder or a Power Grid Corporation of India project.
GE Vernova T&D India shares opened at ₹4,636.10 on NSE today, as compared to previous close of ₹4,367.20. The stock touched an intraday high of ₹4,733.30 on 8 September.
What’s behind the rally?
In an exchange filing dated 7 September, GE Vernova T&D India said the project entails the design and development of a 6,000 MW, ±800 kV High Voltage Direct Current (HVDC) Line Commutated Converter (LCC) terminal station to evacuate renewable energy from Barmer II in Rajasthan to South Kalamb in Maharashtra.
The project will comprise two terminal stations, each with a capacity of 3,000 MW, and is scheduled to be executed over multiple years.
The company did not disclose the value of the order in its exchange filing.
An L1 bidder is the participant that submits the lowest bid in a tender and is generally considered the preferred bidder. However, being declared L1 does not necessarily mean that the contract has been formally awarded, as the project may still be subject to approvals and other formalities.
HVDC refers to High Voltage Direct Current, a technology used to transmit electricity over long distances at high voltage with relatively lower transmission losses. In this project, the HVDC system will facilitate the evacuation of renewable power generated in Barmer, Rajasthan, and its transmission to Maharashtra for integration into the Power Grid.
GE Vernova T&D India Q1 results 2026
The company reported a nearly 25% year-on-year increase in net profit to ₹362.99 crore for the June quarter (Q1 FY27), compared with ₹291.2 crore in the corresponding quarter last year, according to an exchange filing.
Total income also grew significantly, rising to ₹1,877.98 crore during the quarter from ₹1,346.43 crore in the same period a year earlier.
However, order bookings declined 30% year-on-year to ₹11.4 billion in the June quarter, compared with ₹16.2 billion recorded in the quarter ended June 2025, the company said in a release.
More to come..
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.