GE Power India has received a work order of Rs 1.75 crore from Gujarat State Electricity Corporation for inspection Works of Turbine -Generator at GSECL Wanakbori TPS. Powered by Capital Market - Live

The key equity indices reversed all gains and traded with minor cuts in morning trade. The Nifty traded below the 24,500 level. Metal shares declined after advancing in the past trading session. At 10:30 ST, the barometer index, the S&P BSE Sensex, was down 152.43 points or 0.19% to 80,349.65. The Nifty 50 index rose 64 points or 0.26% to 24,445.25. In the broader market, the S&P BSE Mid-Cap index declined 0.39% and the S&P BSE Small-Cap index shed 0.03%. The market breadth was negative. On the BSE, 1,610 shares rose and 1,904 shares fell. A total of 164 shares were unchanged. Finance Minister Nirmala Sitharaman will present the Union Budget for 2024-25 in the Lok Sabha today, 23 July 2024. This highly anticipated Union Budget 2024 will serve as a pivotal economic roadmap for the Modi 3.0 government, aiming to propel India towards becoming a developed nation, 'Viksit Bharat', by 2047. The pre-Budget Economic Survey, presented by Sitharaman in Lok Sabha on Monday, has outlined a conservative growth forecast of 6.5% to 7% for the current fiscal year. Result today: Bajaj Finance (down 0.80%) , DCM Shriram (up 0.14% ), Heritage Foods (down 0.29%), Hindustan Unilever (up 0.04%), ICICI Prudential Life Insurance Company (down 2.01%), ICRA (down 0.24%), Indoco Remedies (up 0.55%), ICICI Securities (up 0.96%), Kajaria Ceramics (down 0.57%), Mahindra and Mahindra Financial Services (up 0.15%), Schaffler India (up 1.33%), Sharda Cropchem (up 0.57%), SRF (up 0.30%), Steel Strips Wheels (down 1.45%), Thyrocare Technologies (up 2.16%), Torrent Pharmaceuticals (up 1.28%) and United Spirits (down 0.2.15%) will announced their quarterly earnings later today. Buzzing Index: The Nifty Metal index declined 1.08% to 9,255.25. The index added 1.02% in the past trading sessions. Vedanta (down 4.32%), National Aluminium Company (down 3.23%), Hindustan Copper (down 2.87%), Steel Authority of India (down 1.56%), Welspun Corp (down 1.49%), Jindal Stainless (down 1.36%), Hindustan Zinc (down 1.34%), Jindal Steel & Power (down 1.27%), Hindalco Industries (down 1.18%) and Tata Steel (down 1.17%) declined. On the other hand, Ratnamani Metals & Tubes (up 0.66%) ,Adani Enterprises (up 0.09%) edged higher. Stocks in Spotlight: GE Power India slipped 1.40%. The company said that it has received supply order from NTPC GE Power Services (NGSL), with a contract value of Rs 348 crore. Greenlam Industries declined 2.24% after the company reported 40% fall in consolidated net profit to Rs 20 crore in Q1 FY25 from Rs 33 crore in Q1 FY24. Revenue jumped 17% YoY to Rs 605 crore in Q1 FY25.Powered by Capital Market - Live

The contract focuses on the renovation and modernization of Steam Turbines at NTPC's Vindhyachal Thermal Power Station (TPS) Units 1-3 (3x210 MW). This project aims to improve heat rate (efficiency) and extend the lifespan of the turbines. GE Power India's expertise covers engineering, manufacturing, project management, and supplying products and equipment for power plants. They operate across the entire power plant lifecycle, from design and procurement to construction and servicing. The company reported a consolidated net profit of Rs 25.94 crore in Q4 FY24 as against a net loss of Rs 129.7 crore in Q4 FY23. Revenue from operations rose by 13.43% year on year (YoY) to Rs 390.76 crore in the fourth quarter of FY24. The scrip shed 0.35% to currently trade at Rs 471 on the BSE. Powered by Capital Market - Live

GE Power India has received a notice of awards from NTPC GE Power Services for renovation and modernization of Steam Turbines of NTPC, Vindhyachal TPS Unit No. 1 - 3 (3x210 MW) for Heat Rate (Efficiency) improvement & life extension. The value of the contract is Rs 348 crore. Powered by Capital Market - Live