General Electric To Quit Gas Turbine Services In Russia: Report
Portfolio Pulse from Nabaparna Bhattacharya
General Electric (NYSE:GE) has reportedly discontinued its gas turbine services at thermal power plants in Russia following Moscow's invasion of Ukraine. However, GE still provides essential medical equipment and supports existing power services in the region. The company is also in final talks with Hindustan Aeronautics Ltd. for a partnership to co-manufacture jet engines in India.
June 20, 2023 | 12:34 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
General Electric discontinues gas turbine services in Russia but maintains medical equipment and power services. The company is also in talks with Hindustan Aeronautics for a jet engine partnership in India.
GE's decision to discontinue gas turbine services in Russia may have a negative impact on its business in the region. However, the company still provides essential medical equipment and power services, which may offset the negative impact. Additionally, GE's potential partnership with Hindustan Aeronautics for jet engine manufacturing in India could open new growth opportunities, balancing the overall short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100