GE T&D India falls 5% to lower circuit

New Delhi: Shares of GE T&D India fell 5 per cent each on the bourses on Wednesday after the company said its promoters are considering selling a minority stake to simplify its holding structure. The stock of the heavy electrical equipment company declined 5 per cent each of Rs 1,717.50 and 1,725.60 apiece -- to hit its lower circuit limit -- on the NSE and BSE. The 30-share BSE Sensex dipped 44.05 points or 0.05 per cent to trade at 80,758.81, however, NSE Nifty rose 25.15 points to 24,724 in the morning trade on Wednesday. On Tuesday, GE T&D India said its promoters, GE Grid Alliance BV (formerly Alstom Grid Holding BV) and Grid Equipments, are in the process of reviewing their shareholding structure of the company, so as to simplify its holding structure. In this regard, it will evaluate and assess their current shareholding in the company including evaluating the possibility of a minority stake sale by the promoter group in the firm, the company said in a regulatory filing.