The Exchange has sought clarification from GE Vernova T&D India Limited with respect to recent news item captioned GE Vernova gets order to supply 9 pumped storage units in India. The response from the Company is attached.
GVT&D · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The stock exchange asked GE Vernova T&D India Limited to clarify a news report claiming the company received an order for 9 pumped storage units in India. The company clarified that it has NOT received any such order. The order was actually received by a separate entity within the GE Vernova group called 'GE Vernova Hydro Power India Private Limited', which operates in the Hydro Power business. GE Vernova T&D India Limited is part of the Electrification business, while the order belongs to the Power/Hydro business segment. The media article only mentioned 'GE Vernova' generically without specifying the correct entity, causing confusion.
No direct impact on shareholders since the order was never related to this company. However, the clarification prevents any speculative trading based on the misleading news about the pumped storage order.