GE T&D India gain after Q1 profit surge

GE Vernova T&D India

01/08/2024 07:13

** Shares of GE T&D India  GETD.NS  rise 5% to 1,664.3
rupees 
    ** Co, which makes equipment for electricity transmission,
said Q1 net profit surged ~5x y/y, rev rose 34%  
    ** Strong qtr, co set to benefit from healthy order pipeline
in power market, says brokerage Prabhudas Lilladher 
    ** Upgrades rating on co to "hold" from "reduce", hikes PT
to 1,601 rupees from 1,100 rupees earlier
    ** Co, on an average, rated "hold" by four analysts covering
the stock, median PT is 1,100 rupees - LSEG data 
    ** YTD stock has soared ~231% 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))