Multibagger stock GE Vernova T&D India rallied 11% in intraday deals on Monday, December 22, following an order win from Adani group company — Adani Energy Solutions Limited (AESL). This is the second straight day of gains for the BSE 200 stock, rising 13.33% during this period.
GE Vernova T&D share price zoomed 11% to hit the day's peak of ₹3250 on the BSE. Today's rise puts the stock just 2% away from the 52-week high level of ₹3,323.70 hit by the stock earlier in November this year.
GE Vernova order win details
The company, in an exchange filing on Saturday, said that AESL Projects has awarded a contract for the design and establishment of 2500 MW, ± 500 kV High Voltage Direct Current (HVDC) VSC Terminal Station (2x1250 MW) for the evacuation of renewable power from KPS 3 (Khavda) to South Olpad.
The order has to be executed over a period of multiple years.
While the company did not release the order value, domestic brokerage Nuvama Research estimates it to be around ~ ₹8000-10,000 crore.
Order book provides growth visibility, says Nuvama
GVTD is currently sitting on its highest-ever order backlog of ₹13100 crore, providing strong revenue visibility over the next ~30–36 months, said Nuvama Research.
The recent win of the Khavda–South Olpad HVDC project further strengthens visibility, alongside a sustained base order inflow momentum of ₹6000-7000 crore per annum, with additional upside from exports (25-30% mix), it added.
With a 3-4 year execution profile, it estimates there could be a 20-30% upside to its FY28-29 estimated earnings, with consequent upside to its current target price of ₹3,680 (60x FY28E EPS).
"With two more LCC HVDC orders expected over the next 12-18 months — a race between Hitachi Energy and GVTD (as Siemens Energy is only in VSC) - further growth optionalities remain," it added.
GE Vernova share price trend
Multibagger stock GE Vernova T&D has rallied 53% on a year-to-date (YTD) basis, gaining in nine of the 12 months this year so far. After falling in January and February, the heavy electric equipment maker rallied for eight straight months till October, with the surge coming to an end last month, as the stock lost 5% in November.
Meanwhile, on a longer time frame of two years, GE Vernova has emerged as a multibagger stock, zooming 580%. Meanwhile, in the last three years, it has jumped 2739%.
As of 10.10 am, GE Vernova T&D India share price was higher by 5.70% at ₹3094.10.
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