GE Power India gains on completing acquisition of 50% stake in NGSL
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GE Power India is currently trading at Rs. 248.50, up by 2.25 points or 0.91% from its previous closing of Rs. 246.25 on the BSE.
The scrip opened at Rs. 248.70 and has touched a high and low of Rs. 253.00 and Rs. 248.00 respectively. So far 7318 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 549.30 on 07-Jul-2020 and a 52 week low of Rs. 177.35 on 04-Nov-2020.
Last one week high and low of the scrip stood at Rs. 262.55 and Rs. 245.50 respectively. The current market cap of the company is Rs. 1670.60 crore.
The promoters holding in the company stood at 68.58%, while Institutions and Non-Institutions held 17.08% and 14.35% respectively.
GE Power India has completed acquisition of 50% of the issued and paid up share capital of NTPC GE Power Services (NGSL) on April 19, 2021. Earlier, the company’s board had approved the acquisition of 50% of the issued and paid-up share capital of NGSL for Rs 7.2 crore. The acquisition of shares of NGSL from GEPower Systems GmbH is a related party transaction as the Company and GE Power Systems GmbH are GE Group Affiliates.
GE Power India is engaged in the engineering, procurement, manufacturing, construction and servicing of power plants and power equipment.
