Hitachi Energy, GE Vernova, Siemens Energy, other power equipment stocks crash up to 10%. Here’s why

Indian power equipment stocks fell up to 10% after the government granted two-year exemptions to four Chinese firms, namely TBEA Energy, Nanjing Electric India, New Northeast Electric India and Taikai Electric India, allowing them to supply electrical equipment and participate in government tenders. Hitachi Energy India slipped nearly 8%, GE Vernova T&D India crashed around 10%, Siemens Energy India dropped over 6%, CG Power plunged over 7%, and Cummins India fell 2%, as investors weighed the threat of cheaper Chinese competition in the domestic power equipment market.