GE Vernova T&D India Ltd. shares jumped nearly 7% in Tuesday’s trading session after the company said it has been declared the L1 bidder by Power Grid Corporation of India for a major high-voltage transmission project.

Around 9.38 am, the stock was trading at Rs 4,655 apiece on NSE, gaining from its previous close at Rs 4,367.2 per share. The benchmark index, Nifty 50, meanwhile dropped 0.44%.

Investors are tracking the development for its potential to strengthen GE Vernova T&D India’s order pipeline, although the company’s filing describes the development as an L1 bid and not a final contract award.

GE Vernova T&D L1…