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GE Power Plunges 5%; BSE CAPITAL GOODS Index Down 0.2%
Tue, 6 Aug 16:46

GE Power Plunges 5%; BSE CAPITAL GOODS Index Down 0.2%Image source: KanawatTH/www.istockphoto.com

GE Power share price has plunged 5% and is presently trading at Rs 446.1.

Meanwhile, the BSE CAPITAL GOODS index is at 70,309.3 (down 0.2%).

Among the top losers in the BSE CAPITAL GOODS index today are Honeywell Automation (down 3.3%) and SCHAEFFLER INDIA (down 2.5%).

AIA Engineering (up 2.8%) and Graphite India (up 2.3%) are among the top gainers today.

Over the last one year, GE Power has moved up from Rs 178.0 to Rs 446.1, registering a gain of Rs 268.1 (up 150.6%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 43,066.5 to 70,309.3, registering a gain of 63.3% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were BHEL (up 185.8%), HINDUSTAN AERO. (up 141.8%) and Bharat Electronics (up 129.3%).

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What About the Benchmark Indices?

The BSE Sensex is at 78,746.0 .

The top losers among the BSE Sensex today are Bharti Airtel (down 1.4%) and M&M (down 1.3%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,033.1 (down 0.1%). HDFC LIFE INSURANCE and SBI LIFE INSURANCE are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,782.8 to 78,746.0, registering a gain of 12,963.2 points (up 19.7%).

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 -16.9.


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