Stocks

GE Power slides over 9% on exiting new-build coal power market

Internet Desk | Updated on September 22, 2020 Published on September 22, 2020

Shares of GE Power India on Tuesday fell as much as 9.5 per cent to ₹410.8 on its parent's announcement of exiting the new-build coal power market, subject to applicable consultation requirements.

At 3.10 pm, the scrip has recouped the earlier losses to trade at ₹434.85, down 4.18 per cent.

GE said it would continue to focus on and invest in its core renewable energy and power generation businesses, working to make electricity more affordable, reliable, accessible, and sustainable.

GE Steam Power will continue to deliver turbine islands for the nuclear market and service existing nuclear and coal power plants.

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Published on September 22, 2020
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