Shares of GE Vernova T&D India rallied as much as 8% to the day’s high of Rs 4,708 on the BSE on Tuesday after emerging as the lowest bidder for a project from Power Grid Corporation of India to design and establish a 6,000 MW, ±800 kV high-voltage direct-current (HVDC) transmission system. The project will evacuate renewable power from Barmer II in Rajasthan to South Kalamb.
The company said it received a letter from Power Grid on September 7 informing it that it had emerged as the L1 bidder for the project. L1 status means GE Vernova T&D India's bid was the lowest among those submitted for the project. The company, however, did not disclose the value of the contract in its filing.
