GE Power India climbs on getting letter of intent for $54 mln contract

Ge Power India

02/08/2023 06:37

** Shares of GE Power India  GEPO.NS  climb as much as
13.02% to a fresh 52-week high of 181 rupees apiece
    ** Co engaged in modernising existing power plants gets
letter of intent for 4.44 bln rupee ($53.8 mln) project from
Gujarat State Electricity Corporation for installation and
commissioning of flue gas desulfurization system
    ** Order to be executed before January 2026: GEPO
    ** Relative strength index rises above 70 on Wednesday,
suggesting the stock may be overbought - Refinitiv data
    ** The moving average convergence divergence (MACD) line
climbs above signal line, indicating near-term bullish momentum
    ** Stock most active in two months, with a trading volume of
3.21 mln shares as of 10:50 a.m. IST, nearly 10x the 30-day avg 
    ** Stock up 27.38% in 2023 so far, including Wednesday's
rise, compared to 8.09% rise in Nifty 50 index  .NSEI 
    


($1 = 82.4725 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))