Shares of power equipment suppliers like Hitachi Energy, GE Vernova T&D India and others crashed up to 10% on Friday despite the overall market uptrend, after media reports said that the government has granted a two-year exemption to four Chinese electrical equipment companies to participate in government tenders for critical power projects.
Hitachi Energy India shares tumbled nearly 8% to Rs 31,150 apiece, while GE Vernova T&D India slumped around 10% to Rs 4,361. Siemens Energy India declined over 6%, CG Power and Industrial Solutions fell more than 7%, and Cummins India slipped 2% in Friday's trade.
