GE Vernova T&D Wins L1 Bid for 6,000 MW HVDC Project, Shares Jump 8%
GEV sits 78% above its 52-week low of $530.16.
Summary
GE Vernova T&D emerged as the L1 bidder for a 6,000 MW, ±800 kV HVDC terminal station project for renewable power evacuation from Barmer II to South Kalamb. The stock rose 8% on the news. This is a significant project win in the high-growth HVDC segment, aligning with the company's strong order momentum—Q2 orders were up 88% organically. The project size is material relative to the company's $45.5B–$46.5B revenue guidance, though exact contract value is not disclosed. Watch for formal contract award and any impact on backlog.
At the time of this announcement, GEV was trading at $942.55 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $250.9B. The 52-week trading range was $530.16 to $1,195.94. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Moneycontrol.