Here's why this multibagger power equipment stock soared over 4% on September 12

So far this year, the stock of this power equipment company have more than tripled or zoomed 252 percent

Shares of GE T&D India surged over 4 percent to Rs 1,800 per share on September 12 after it secured two orders from Grid Solutions Middle East FZE, Dubai and Grid Solutions SAS France for supply of high-voltage products.

Grid Solutions Middle East contracted the company for an international deal worth 55 million euros that will take up to five years to complete. On the other hand, Grid Solutions SAS contracted the company for an international deal worth 100 million euros that is meant to be completed by 2029.

The order has been received from the group company and these products will form a part of the overall project being executed by the group company for the end customer. The orders fall within related-party transactions, which are done at arm's length, the filing said.

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GE T&D India offers products ranging from medium voltage to ultra-high voltage (1200 kV) for power generation, transmission and distribution industry.

The company offers a wide range of products and services that include power transformers, circuit breakers, gas insulated switchgears, instrument transformers, substation automation equipment, digital software solutions, turnkey solutions for substation engineering and construction. With 5 manufacturing sites, it focuses to meet the industry’s growing demand for grid equipment and services.

So far this year, the stock of this power equipment company have more than tripled or zoomed 252 percent, as against benchmark Nifty 50's 15 percent surge.

In the recently concluded June quarter, GE T&D India reported a multi-fold rise in its net profit to Rs 134.5 crore mainly on account of higher income. The company's total income also rose to Rs 970.1 crore from Rs 729.5 crore a year ago.

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