The domestic equity benchmarks traded with modest gains in early afternoon trade. The Nifty traded above the 24,200 level. Bank shares advanced after declining in the past two consecutive trading sessions. At 12:30 IST, the barometer index, the S&P BSE Sensex, was up 336.79 points or 0.42% to 79,823.11. The Nifty 50 index added 82.50 points or 0.35% to 24,233.40. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.34% and the S&P BSE Small-Cap index fell 0.57%. The market breadth was negative. On the BSE, 1,685 shares rose and 2,274 shares fell. A total of 131 shares were unchanged. Economy: India's forex reserves declined by USD 2.675 billion to USD 682.13 billion for the week ended November 1, the RBI said on Friday. In the previous reporting week, the overall reserves had dropped by USD 3.463 billion to USD 684.805 billion. For the week ended November 1, foreign currency assets, a major component of the reserves, decreased by $3.902 billion to $589.849 billion, the data released on Friday showed. Gold reserves increased by $1.224 billion to $69.751 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by $1 million to $18.219 billion, the apex bank said. India's reserve position with the IMF was up by $4 million to $4.311 billion in the reporting week, the data showed. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.43% to 14.53. The Nifty 28 November 2024 futures were trading at 24,287.05, at a premium of 53.65 points as compared with the spot at 24,233.40. The Nifty option chain for the 28 November 2024 expiry showed maximum Call OI of 31.2 lakh contracts at the 25,000 strike price. Maximum Put OI of 38.4 lakh contracts were seen at 24,000 strike price. Buzzing Index: The Nifty Bank index rose 0.87% to 52,009.95. The index slipped 1.44% in past two consecutive trading sessions. IDFC First Bank (up 1.51%), HDFC Bank (up 1.39%), ICICI Bank (up 1.11%), Axis Bank (up 0.97%) and State Bank of India (up 0.87%), Canara Bank (up 0.77%), IndusInd Bank (up 0.69%), Kotak Mahindra Bank (up 0.69%), Bank of Baroda (up 0.6%) and Federal Bank (up 0.4%) advanced. Stocks in Spotlight: GE Vernova T&D India hit an upper circuit of 5% after the company's standalone net profit surged 289.08% to Rs 144.62 crore on 58.76% jump in revenue from operations to Rs 1,107.77 crore in Q2 FY25 over Q2 FY24. Krishna Institute of Medical Sciences (KIMS) rallied 3.45% after the company reported 9.23% increase in consolidated net profit to Rs 72.2 crore on 14.9% rise in revenue from operations to Rs 363.3 crore in Q2 FY25 over Q2 FY24. Powered by Capital Market - Live

Profit before tax (PBT) soared 285.19% to Rs 193.75 crore in Q2 FY25 from Rs 50.30 crore in Q2 FY24. During the quarter, EBITDA stood at Rs 208.6 crore, up 18.8% as compared with Rs 69.8 crore in same quarter last year. Order bookings stood at Rs 4,680 crore in the quarter ended 30 September 2024 as against Rs 1,080 crore in quarter ended 30 September 2023. Sandeep Zanzaria, managing director & CEO, GE Vernova T&D India, said, 'We delivered a solid second quarter, delivering continued revenue growth, significant margin expansion, and substantial cash generation. We have secured a record high order backlog, which positions the company for strong revenue growth in the coming years. As India continues to make significant strides towards its ambitious target of 500 GW non-fossil fuel capacity by 2030, we are excited to collaborate with stakeholders in power sector and contribute to this transformative journey.' GE Vernova T&D India is a leading player in the power transmission and distribution business. The company provides a versatile and robust range of solutions for connecting and evacuating power from generations sources onto the grid, providing utilities with the tools needed to support the increase in demand swiftly. It offers products ranging from medium voltage to ultra-high voltage (1200 kV) for power generation, transmission and distribution industry.Powered by Capital Market - Live

Net profit of GE Vernova T&D India rose 289.08% to Rs 144.62 crore in the quarter ended September 2024 as against Rs 37.17 crore during the previous quarter ended September 2023. Sales rose 58.76% to Rs 1107.77 crore in the quarter ended September 2024 as against Rs 697.76 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales1107.77697.76 59 OPM %18.488.69 - PBDT205.8062.91 227 PBT193.7550.30 285 NP144.6237.17 289 Powered by Capital Market - Live

GE T&D India will hold a meeting of the Board of Directors of the Company on 8 November 2024Powered by Capital Market - Live

The company is in the process of ascertaining the loss/damage caused due to aforesaid disruption. While the loss is covered under insurance policy, the loss amount shall be ascertained after survey, the firm stated. The company is taking adequate steps to ensure resumption of operations of the plant at the earliest,' GE T&D India said in a statement. The scrip of GE T&D India was currently trading with a gain of 1.71%, at Rs 1704 as value buying emerged at lower levels. The scrip had declined 2.55% in the past two sessions to end at Rs 1675.35 on the BSE GE T&D India is the listed entity of GE Vernova's Electrification business in India. With over 100 years of presence in the country, GE T&D India is a leading player in the power transmission and distribution business. The company's profit after tax was at Rs 134.5 crore as against Rs 28.2 crore in the quarter ended June 2023. Revenue was Rs 960 crore, against Rs 720 crore in the quarter ended June 2023, up 34.0%. On the technical front, the stock's daily RSI (relative strength index) stood at 52.411. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. On daily chart, the stock is trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 1634.77, 1403.78 and 1025.22, respectively. Powered by Capital Market - Live

GE T&D India has fixed 28 August 2024 as record date for final dividend of Rs 2 per equity share for FY 2024, if approved. Powered by Capital Market - Live

GE T&D India has received order from Power Grid Corporation of India for Implementation of Unified Load Dispatch and Communication ULDC Phase-III SCADA/EMS Upgradation Project Eastern Regional SLDCs and RLDC. The order valued at Rs 305 crore involves Supply, Installation, Testing, Commissioning and Maintenance of SCADA/EMS Control Centers. Powered by Capital Market - Live

Revenue from operations jumped 33.55% to Rs 958.34 crore in Q1 FY25 as compared with Rs 717.57 crore posted in Q1 FY24. Profit before tax (PBT) spurted to Rs 179.91 crore in Q1 FY25 over Q1 FY24. EBITDA stood at Rs 194 crore in Q1 FY25, steeply higher than Rs 62.8 crore posted in same quarter last year. EBITDA margin was 20.2% in Q1 FY25 as against 8.7% in Q1 FY24. During the quarter, order intake stood at Rs 1,029 crore, up 2% as compared with Rs 1,006.6 crore recorded in same quarter last year. Sandeep Zanzaria, managing director & CEO of GE T&D India, said, 'Our exceptional quarterly results are a direct outcome of our unwavering focus on delivering quality and value to our customers and stakeholders. As India's power grid scales new heights with its power transmission system emerging as one of the largest unified electricity grids in the world, we are excited to be a key partner in this journey of India's energy transition.' GE T&D India is a leading player in the power transmission and distribution business. The company provides a versatile and robust range of solutions for connecting and evacuating power from generations sources onto the grid, providing utilities with the tools needed to support the increase in demand swiftly.Powered by Capital Market - Live