Transformer Stocks Rise: CG Power, GE Vernova, Hitachi Energy India Gain After Trump Restricts China-Linked Grid Equipment
Shares of Indian power equipment manufacturers, including CG Power, GE Vernova, Hitachi Energy India and Transformers and Rectifiers (India), gained in Thursday’s trading session after US President Donald Trump announced measures targeting certain foreign-made equipment used in the country’s electricity grid. CG Power led the gains among the sector’s stocks, climbing as much as 4%, while GE…
Shares of Indian power equipment manufacturers surged on Thursday following US President Donald Trump's announcement of restrictions on certain foreign-made grid equipment. CG Power led the gains, climbing up to 4%, while GE Vernova rose by around 3%. Transformers and Rectifiers (India) and Hitachi Energy India also saw gains of 2.71% and 2.13%, respectively.
The restrictions, aimed at addressing potential security risks, are expected to open up opportunities for manufacturers from countries like India as the US upgrades its electricity infrastructure and expands power generation capacity.
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Also reported by 1 other outlet
- Hitachi Energy India, GE Vernova, other power capex stocks rise up to 5%. Two reasons behind the surge economictimes.indiatimes.com
