GE Vernova L1 bidder for 6,000 MW HVDC project
after close2 sources ↓machine-written, see hownot a recommendation
- GVT&D close
- ₹4,050
- On the day
- -3.01%
- Futures OI, long unwinding
- -2.4%
- Put-call ratio
- 0.81
- Max pain
- ₹4,000
GE Vernova T&D India was named the L1 bidder on 7 Sep 2026 for Power Grid Corporation of India’s 6,000 MW HVDC project linking Barmer-II with South Kalamb. The assignment covers two 3,000 MW ±800 kV line-commutated converter terminal stations intended to support renewable-power evacuation. The selection is not yet a final contract: the Letter of Award remains pending and no contract value has been disclosed.
The update corrects the earlier description of the development as an awarded project. For GE Vernova T&D India, L1 status indicates the company submitted the lowest evaluated bid, but revenue recognition, margins and order-book contribution depend on the final award, contract terms and execution schedule. The project is relevant to India’s renewable-transmission build-out ⚡ because high-capacity HVDC links move electricity from generation zones to demand centres over long distances.
The stock reaction has differed across the reported dates. The new source said shares rose 7.44% on 8 Sep after the L1-bidder disclosure. OI Charts data for 3 Nov showed the shares closing at ₹4,050, down 3.0% on the day, with volume of 678,314. Over five sessions, the stock was up 1.8%, while the 20-session move was down 3.6%. The stock traded between ₹2,523 on 21 Jan 2026 and ₹5,650 on 23 Jun 2026.
In derivatives, OI Charts data showed futures open interest down 2.4% with long unwinding, a put-call ratio of 0.81 and max pain at ₹4,000 for the 23 Nov expiry. The largest call open interest was at ₹4,600 and the largest put open interest at ₹3,900. Power Grid shares closed at ₹259.55 on 3 Nov, down 3.0%; futures open interest rose 0.9%, indicating short build-up. Its max-pain level was ₹260, with the largest call open interest at ₹270 and put open interest at ₹300.
Investors will watch for the Letter of Award, contract value, project schedule, payment terms and execution disclosures. These details will determine the financial significance for the equipment supplier and the transmission owner 🌱.
Source: HDFC Sky and Multibagg AI, 04 Nov 2026
Not investment advice. For informational purposes only.