GE T&D India up as holding company to split, energy business spun-off

GE Vernova T&D India

03/04/2024 05:09

** Shares of power transmission company GE T&D India
 GETD.NS  up 2.9% at 907 rupees in early trading
    ** Co says it received a letter from its holding firm -
General Electric  GE.N  - saying it will split into GE Aerospace
and GE Vernova
    ** GE's energy business will be spun off under GE Vernova,
with transfer of its 75% stake in GETD to the entity, making it
the holding company
    ** GETD on track for fourth straight session of gain
    ** Avg rating of five analysts at "hold"; median PT is 524
rupees - LSEG data
    ** Stock up ~80% YTD, after a more than quadruple jump in
2023

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))