GE Vernova T&D India named lowest bidder for Power Grid project
In short
GE Vernova T&D India emerged as the lowest bidder for two HVDC terminal stations. The project is meant to move renewable power from Rajasthan to South India.
This matters because it can support future orders and investor sentiment around the stock. The reporting does not state the contract value or when the project will start.
What the reporting says
GE Vernova T&D India emerged as the lowest bidder for two HVDC terminal stations that will help transmit renewable power from Rajasthan to South India. Brokerages such as InCred still prefer GE Vernova T&D over Hitachi Energy, and Citi ended its positive catalyst watch on Hitachi Energy after the order win. Nomura also raised its price target on the stock, but the reporting does not give the order value.
Why it matters
GE Vernova T&D India emerged as the lowest bidder for two HVDC terminal stations tied to moving renewable power from Rajasthan to South India. Brokerages cited in the reporting remained positive on GE Vernova T&D, while Citi ended its positive catalyst watch on Hitachi Energy and Nomura raised its price target on the stock. The reporting does not state the order size, timing, or final award status.