GE Gets Contract Order Worth Rs 490 Cr from Power Grid Corp
GE T&D India secures a Rs 490 crore contract from Power Grid Corporation for upgrading SCADA/EMS systems across Northern India, highlighting its pivotal role in enhancing regional grid efficiency and management.
by Damodharan N
Updated Jul 15, 2024
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GE T&D India Limited has secured a major contract worth Rs 490 crore from Power Grid Corporation of India Limited (POWERGRID) for the implementation of the Unified Load Dispatch and Communication (ULDC) Phase-III SCADA/EMS Upgradation Project. The project will cover Northern Regional State Load Dispatch Centers (SLDCs) and Regional Load Dispatch Centers (RLDC).
Under the terms of the domestic contract, GE T&D India will be responsible for supplying, installing, testing, commissioning, and maintaining SCADA/EMS control centers. The project is scheduled to be completed by January 2026 and includes GST at 18%.
The contract's substantial value and strategic importance highlight GE T&D India's capability to contribute significantly to the nation's power infrastructure development efforts.
Read the full Release Here
Market Reaction
Following GE T&D India's announcement of its contract with Power Grid Corporation, the market initially responded positively on the Bombay Stock Exchange (BSE). At 9:15 AM, the share price surged to Rs. 1,750 and trading volume peaked at 755 shares.
However, by 10:00 AM, the share price experienced a decline, reaching a low of Rs. 1,712. The volatility continued through the morning, with the price dropping further to Rs. 1,690 by 11:30 AM. This fluctuation highlights the market's reaction to the news, demonstrating both initial investor optimism and subsequent volatility in share trading.
Watch the live share price on BSE Here
GE T&D India
GE T&D India Limited is the listed entity of GE’s Grid Solutions business in India, boasting a century-long presence in the country's power transmission and distribution sector. Renowned for its comprehensive portfolio, GE T&D India offers a wide array of solutions spanning from medium to ultra-high voltage equipment (up to 1200 kV).
The company's offerings include power transformers, circuit breakers, gas insulated switchgears, and substation automation equipment, among others. With 5 manufacturing facilities strategically located, GE T&D India is well-positioned to meet the increasing demand for grid equipment and services.
The company emphasizes innovation in green and digital solutions to enhance grid efficiency, resilience, and environmental sustainability.
Power Grid
Power Grid Corporation of India Limited (POWERGRID) is a premier government-owned enterprise incorporated in 1989, recognized as India’s largest electric power transmission utility.
Listed since 2007, it is a 'Maharatna' PSU with majority ownership by the Government of India. POWERGRID operates an extensive transmission network spanning 1,77,790 circuit kilometers of transmission lines and 278 substations, ensuring a high system availability of 99.8%.
The corporation also provides consultancy services to over 150 domestic clients and has a global footprint extending to more than 23 countries with 25 international clients. Known for its robust infrastructure and highest safety ratings from domestic credit agencies.
POWERGRID plays a pivotal role in India's power sector, maintaining critical transformation capacity and backbone telecom networks across the country.
GE gets Contract Order Worth Rs 490 Cr from Power Grid Corp - FAQs
1. What is the value of the contract GE T&D India secured from Power Grid Corporation?
GE T&D India secured a significant contract valued at Rs 490 crore from Power Grid Corporation.
2. What project does the contract cover?
The contract covers the implementation of the Unified Load Dispatch and Communication (ULDC) Phase-III SCADA/EMS Upgradation Project for Northern Regional State Load Dispatch Centers (SLDCs) and Regional Load Dispatch Centers (RLDC).
3. What is GE T&D India's role in the contract?
GE T&D India will be responsible for supplying, installing, testing, commissioning, and maintaining SCADA/EMS control centers under this contract.
4. When is the project expected to be completed?
The project is scheduled to be completed by January 2026.
5. How did the market initially react to the contract announcement on BSE?
Following the announcement, there was an initial surge in GE T&D India's share price to Rs. 1,750, accompanied by a peak trading volume of 755 shares.
6. What happened to GE T&D India's share price by 10:00 AM post-announcement?
However, by 10:00 AM, the share price experienced a decline, touching a low of Rs. 1,712.
7. What was the share price at 11:30 AM following the announcement?
By 11:30 AM, the share price further dropped to Rs. 1,690, indicating volatility in trading activity.
8. What does the market volatility post-announcement indicate?
The volatility reflects initial investor optimism followed by fluctuating trading patterns in response to the news.
9. What is the strategic significance of this contract for GE T&D India?
This contract reinforces GE T&D India's position as a leading provider of advanced technology solutions in India's power infrastructure sector, enhancing their market presence and capabilities.
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