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GE Power Plunges 10%; BSE CAPITAL GOODS Index Down 0.6%
Fri, 12 Jul 14:11

GE Power Plunges 10%; BSE CAPITAL GOODS Index Down 0.6%Image source: asbe/www.istockphoto.com

GE Power share price has plunged 10% and is presently trading at Rs 572.0.

Meanwhile, the BSE CAPITAL GOODS index is at 74,916.5 (down 0.6%).

Among the top losers in the BSE CAPITAL GOODS index today are SCHAEFFLER INDIA (down 3.0%) and ABB (down 2.8%).

Carborundum Universal (up 0.7%) and L&T (up 0.5%) are among the top gainers today.

Over the last one year, GE Power has moved up from Rs 160.3 to Rs 572.0, registering a gain of Rs 411.7 (up 256.8%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 40,584.0 to 74,916.5, registering a gain of 84.6% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were BHEL (up 258.2%), HINDUSTAN AERO. (up 191.3%) and Bharat Electronics (up 170.2%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 80,708.7 (up 1.0%).

The top gainers among the BSE Sensex today are TCS (up 6.8%) and Infosys (up 3.7%). The most traded stocks in the BSE Sensex are Tata Steel and ITC.

In the meantime, NSE Nifty is at 24,561.1 (up 1.0%). TCS and Wipro are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,344.2 to 80,708.7, registering a gain of 15,364.5 points (up 23.5%).

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 -21.7.

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