The share price of GE T&D India Ltd dropped as much as 5 per cent to the lower circuit after the electric equipment firm announced that the promoter companies are considering selling a minority equity interest of their current 75 per cent holding. In the morning trading, GE T&D India traded at Rs 1,717. The stock has grown fivefold in the last year, helped by a consistent increase in order volume and income.
GE T&D India had earlier on Tuesday announced that GE Grid Alliance BV and Grid Equipments Pvt Ltd are simplifying their shareholding structure in the firm.
In the filing, the company shared, “In this regard, (the promoter group) will evaluate and assess their current shareholding in the Company including evaluating the possibility of a minority stake sale by the Promoter Group in the Company.”
As of 10:50 am, GE T&D India shares were trading 5% lower at Rs 4,390.00 on the NSE.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.