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The company’s total revenue increased to Rs 637.83 crore during the third quarter of the current fiscal year compared with Rs 619.56 crore in the year-ago period, PTI reported.

The issue was subscribed only 16 per cent during the first ninety minutes of the issue. By 10.45 am, the issue saw bids for 40,39,914 equity shares against an offering of 2,54,55,388 equity shares in the issue, the BSE data suggests

Jefferies also finds the stock Rs 650-worthy as it believes low net slippages was a key positive in the third quarter results.

The Relative Strength Index of the stock stood at 32.2 on Monday.

Promoters held 46.86 per cent stake in the company as of 31-Dec-2021, while FII and DII ownership stood at 10.84 per cent and 4.48 per cent, respectively.

GE T&D India Ltd., incorporated in the year 1957, is a Mid Cap company (having a market cap of Rs 2989.34 Crore) operating in Power sector.

A total of 387 shares changed hands on the counter till 11:52AM (IST)

The stock traded at a P/E multiple of 7.59, while the price-to-book value ratio stood at 10.07.

Ravindra Rao, CMT, EPAT, VP- Head Commodity Research, Kotak Securities said that gold trades higher supported by weaker US dollar, mixed economic numbers, inflation concerns and geopolitical risks.

“Indian It companies in their own space are doing well. There is solid demand. The management has been extremely positive of pretty much all the IT companies and we believe that medium to long term, Indian IT companies are in for a good time.”