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GE Power Plunges 3%; BSE CAPITAL GOODS Index Up 0.3%
Tue, 24 Sep 15:5

GE Power Plunges 3%; BSE CAPITAL GOODS Index Up 0.3%Image source: KanawatTH/www.istockphoto.com

GE Power share price has plunged 3% and is presently trading at Rs 395.0.

Meanwhile, the BSE CAPITAL GOODS index is at 74,130.6 (up 0.3%).

Among the top losers in the BSE CAPITAL GOODS index today are Finolex Cables (down 1.9%) and HINDUSTAN AERO. (down 0.8%).

TIMKEN INDIA (up 3.2%) and AIA Engineering (up 2.7%) are among the top gainers today.

Over the last one year, GE Power has moved up from Rs 178.5 to Rs 395.0, registering a gain of Rs 216.5 (up 121.3%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 46,903.1 to 74,130.6, registering a gain of 58.1% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were BHEL (up 127.5%), HINDUSTAN AERO. (up 120.6%) and Bharat Electronics (up 112.5%).

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

What About the Benchmark Indices?

The BSE Sensex is at 84,954.1 .

The top gainers among the BSE Sensex today are Tata Steel (up 4.2%) and Power Grid Corp. (up 2.6%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 25,950.5 . Tata Steel and Hindalco are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,800.8 to 84,954.1, registering a gain of 18,153.3 points (up 27.2%).

GE Power Financial Update...

GE Power net profit grew 92.1% YoY to Rs -107 million for the quarter ended June 2024, compared to a loss of Rs 1,363 million a year ago. Net sales rose 1.5% to Rs 4,300 million during the period as against Rs 4,236 million in April-June 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 -51.6.

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