Small Cap Stock Surge Over 3% As Company Bags Order Worth Rs 25 Crore From Vedanta

The shares of GE Power India Ltd. surged nearly 8% in early trade on Wednesday, with the day's high of Rs 182.90 apiece. The surge happened a day after the company announced in an exchange filing that it received a Rs 25 Crore (Plus 18% GST) purchase order from Vedanta Ltd.

On September 12, GE Power India Ltd. informed the exchanges that it had received a purchase order from Vedanta Ltd. to implement NOX reduction measures at the latter's Lanjigarh CGPP unit.

The order is related to the Combustion Modification of the Boiler at the 3×30 MW CGPP unit. The contract is to be executed in 14 months, according to the filing by the company.

The shares of GE Power India closed trading at Rs 174.95, up Rs 5.45, or 3.22% from the previous closing price of Rs 169.50 apiece on the BSE. The stock's 52-week high is Rs 198 apiece and the 52-week low is Rs 97.45 apiece.

The stock declined 3.05% in the last 1 week. It gained 56% in the last 6 months. It gained 7.66% in the last 1 month, while it declined 6188% in the last 3 years.

GE Power India Ltd. is a power generation and transmission equipment manufacturer in India. The company has diverse business divisions, including air quality control systems, services, and automation and control. It is a small-cap company having a market cap of Rs 1,176.14 Crore.