Shares of GE T&D India hit over five-year high of Rs 361.80, and were frozen at the 5 per cent upper circuit at 10:33 am on Thursday, in otherwise weak market. In comparison, the S&P BSE Sensex was down 0.33 per cent at 65,322.
The stock of heavy electric equipment company has locked at tthe upper circuit for the sixth straight day, surging 34 per cent during the period, after the company reported improved financial performance for June quarter (Q1FY24).
Thus far in the month of August, the stock has rallied 42 per cent. While, so far in the current calendar year, it has zoomed 212 per cent, as against 7 per cent rise in the benchmark index. It now quotes at its highest level since May 2018.
