0738 GMT - GE Vernova T&D India's large capital expenditure plans are poised to drive long-term revenue growth, Nomura analysts say in a research report. Its INR8.1 billion capex plan includes an over 50% expansion in transformer and reactor capacity at India's Vadodara and 25% expansion in gas-insulated switchgear and air-insulated switchgear capacity at Hosur and Padappai. This is in addition to an earlier announced capex plan of INR2.5 billion, bringing total capex to INR10.6 billion. The capex will help increase localization and improve high-voltage direct current prospects for the power transmission and distribution company. Nomura raises the stock's target price to INR3,700.00 from INR3,350.00, and keeps a buy rating. Shares are 2.1% lower at INR3,105.55. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
November 04, 2025 02:38 ET (07:38 GMT)
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