GE Power gets LoI for contact worth of Rs 444 crore; stock surges 13%

Shares of GE Power India hit a 52-week high of Rs 181 as they surged 13 per cent on the BSE in Wednesday’s intra-day trade, in an otherwise a weak market, after the company received a Letter of Intent (LoI) from Gujarat State Electricity Corporation for contract worth of Rs 444 crore.

In an exchange filing, GE Power India said the company has received contract for design, engineering, manufacture, supply, shop testing, packing and forwarding, installation, commissioning and PG testing of flue gas desulphurisation (FGD) system on engineering procurement & construction (EPC) basis. The said order is to be executed within 30 months from the date of LoI i.e. January 2026. The basic value of the contract is Rs 444 crore plus GST (18 per cent).