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GE Power Gains 12%; BSE CAPITAL GOODS Index Up 0.3%
Thu, 4 Jul 16:42

GE Power Gains 12%; BSE CAPITAL GOODS Index Up 0.3%Image source: hudiemm/www.istockphoto.com

GE Power share price has zoomed 12% and is presently trading at Rs 461.6.

Meanwhile, the BSE CAPITAL GOODS index is at 73,985.3 (up 0.3%).

Among the top gainers in the BSE CAPITAL GOODS index today are Honeywell Automation (up 4.2%) and HINDUSTAN AERO. (up 1.2%).

TIMKEN INDIA (down 1.2%) and L&T (down 1.0%) are among the top losers today.

Over the last one year, GE Power has moved up from Rs 155.2 to Rs 461.6, registering a gain of Rs 306.5 (up 197.5%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 40,540.3 to 73,985.3, registering a gain of 82.5% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were BHEL (up 252.2%), HINDUSTAN AERO. (up 192.9%) and Bharat Electronics (up 156.8%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 80,049.7 (up 0.1%).

The top gainers among the BSE Sensex today are Tata Motors (up 2.7%) and HCl Tech. (up 2.7%). The most traded stocks in the BSE Sensex are Tata Motors and Tata Steel.

In the meantime, NSE Nifty is at 24,304.7 (up 0.1%). Tata Motors and HCl Tech. are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,205.1 to 80,049.7, registering a gain of 14,844.6 points (up 22.8%).

GE Power Financial Update...

GE Power net profit grew 117.5% YoY to Rs 231 million for the quarter ended March 2024, compared to a loss of Rs 1,319 million a year ago. Net sales rose 13.4% to Rs 3,908 million during the period as against Rs 3,445 million in January-March 2023.

For the year ended March 2024, GE Power reported 61.1% increase in net profit to Rs -1,713 million compared to net loss of Rs 4,406 million during FY23. Revenue of the company fell 9.5% to Rs 16,248 million during FY24.

The current Price to earnings ratio of GE Power, based on rolling 12 month earnings, stands at -17.5.

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