GE Vernova Transmission and Distribution India (GVTD) shares climbed nine per cent after the company emerged as the L1 bidder for the Barmer II–South Kalamb High Voltage Direct Current (HVDC) transmission line. The move followed an exchange filing that named the firm as the L1 bidder for design and establishment of the terminal station component of the project. The development came as the broader market remained subdued, leaving the stock to significantly outperform the benchmark index.

The stock opened seven point nine per cent higher at Rs4,636.10 and extended gains to an intraday high of Rs4,747.10 on the National Stock Exchange (NSE). As of 11 AM the shares were trading near the day high at Rs4,744, having seen nearly three million (three mn) shares change hands, which placed the company among the most active listings on the exchange. The Nifty 50 index was trading zero point four five per cent lower over the same period.

The Power Grid filing indicated that the order involves establishment of a 6,000 megawatt (MW), ±800 kilovolt (kV) HVDC line with two 3,000 MW LCC terminal stations for evacuation of renewable power from Barmer II to South Kalamb over multiple years. The filing did not disclose the contract value. The specification highlights the scale of transmission capacity the project would add to the grid.

Brokerage Emkay Global retained its Buy rating and maintained a target of Rs5,300, which implied a 21 per cent upside from the previous close of Rs4,367.20. The brokerage noted that once the order finalises in favour of GVTD the order backlog would scale to around Rs280 billion (Rs280 bn), offering revenue visibility of 4.2x trailing twelve months revenue. Emkay also highlighted GVTD's strong net cash position of Rs29.3 billion (Rs29.3 bn) as of the first quarter of fiscal year 2027, which should support planned capital expenditure and working capital requirements.