GE Vernova T&D Q3 Results: Results came out yesterday, profits more than doubled, shares rose more than 9%, brokerage firm said it will run 1000 points more: Brokerage firm Nomura has maintained its 'Buy' rating on GE Vernova T&D, with a target price of ₹4,000.

News Topical, Digital Desk : Shares of GE Vernova T&D India Ltd. opened higher again on Thursday, January 29, by as much as 9%. Earlier on Wednesday, the stock had gained nearly 7% following strong December quarter results that beat Street estimates. The company reported its strongest revenue growth since Q2FY25, thanks to faster project execution and sharp margin expansion.

Management stated that the order inflow reported during the quarter does not include the recently received HVDC order. Export orders represented 14% of total order inflow and increased 32% year-on-year. The company also experienced an extraordinary impact of ₹69.3 crore due to the implementation of the new wage code.

Export orders currently account for 24%-27% of the company's total order backlog. The South Olpad HVDC project is expected to be booked in Q4FY26. Management stated that domestic TBCB ordering activity is not slowing. However, decisions from some export customers are being delayed, with orders now expected to arrive in the second half of FY27.

Has a new target price been received? Brokerage firm Nomura has maintained its 'Buy' rating on GE Vernova T&D and assigned a target price of ₹4,000. According to Nomura, the company has performed well overall, resulting in a significant 41% increase in earnings estimates. The brokerage also cited an increase in margin guidance and a strong demand outlook. Currently, the stock trades at around 40 times FY28E earnings. Nomura raised its FY28 EPS estimate by 9%, factoring in faster execution of HVDC projects and slower-than-expected dilution in pricing power. Shares of GE Vernova T&D India closed 6.52% higher at ₹2,909.05 on Wednesday. The stock has gained 13% in the past five trading sessions.