Second-best performing midcap stock of 2026 surges another 9% after strong parent results

Shares of GE Vernova T&D Ltd., the second-best performing stock on the Nifty Midcap index in 2026 so far, are up another 9% on Thursday, April 23, after the company’s parent, GE Vernova, reported strong results and raised guidance across the board on Wednesday.The US-listed shares of the parent company had risen 14% in regular trading after the results announcement.

GE Vernova now expects revenue of $14 billion to $14.5 billion from $13.5 billion to $14 billion projected earlier. Margins are also expected to improve to 18% to 20% from 17% to 19% earlier.
For the quarter gone by, GE Vernova’s electrification segment saw its operating income more than double, growing 108% from the same quarter last year to $7.1 billion during the quarter.There was also a very sharp expansion in EBITDA margins for the parent company as well, improving to 17.8% for the quarter gone by, from 11.1% during the same quarter last year.

Order backlog for GE Vernova increased by 70% from the year-ago period to $42.4 billion, which was aided by orders from HVDC, switchgears and transformer orders.

This is a positive read-through for GE T&D India on back of expectations of higher Related party transactions.

Shares of GE Vernova T&D are up another 8.5% on Thursday at ₹4,602.5. The stock is up 22% in the month of March, which is the best month that the stock has had since May last year. The stock is also up 40% so far in 2026, making it the second-best performing stock on the Nifty Midcap index, following Hitachi Energy India, which is up over 60%.