GE T&D India Limited gets extension from GE Grid Solutions for termination date till Mar 31, 2022

GE T&D India Limited had earlier announced regarding short term, non-exclusive contracts/purchase orders for global engineering services with other companies in the GE Grid Solutions division outside India, the Company was formally notified that with effect from June 30, 2021 no new contracts/purchase orders will be issued to the Company in relation to those services and existing contracts/purchase orders will lapse at their expiry date or be terminated by notice. Subsequently on this matter GE Grid Solutions extended the termination date to December 31, 2021.

On request of the management, GE Grid Solutions has vide its communication dated December 13, 2021 further extended the date of termination to March 31, 2022.

The management continues to explore options to minimize the impact of such termination on the Company.

Shares of GE T&D India Limited was last trading in BSE at Rs. 125.85 as compared to the previous close of Rs. 127.05. The total number of shares traded during the day was 9371 in over 392 trades.

The stock hit an intraday high of Rs. 130.05 and intraday low of 125.55. The net turnover during the day was Rs. 1200176.00.

Source : Equity Bulls

Keywords

GETandDIndia INE200A01026 DateofTermination Extended