Hitachi Energy, BHEL, Siemens Energy, TARIL slide as much as 12% after India eases bidding curbs
AI Market Summary
India's finance ministry approved four China-linked power equipment manufacturers to bid on critical government power projects, loosening prior restrictions. The policy shift raises competitive pressure and potential order diversion away from domestic and established suppliers, triggering sharp same-day declines in names such as BHEL, Siemens Energy, Hitachi Energy and GE Vernova. Near-term sentiment is negative for incumbents exposed to Indian grid capex tenders and pricing power.
Impact level
● Medium
Affected assets
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▼ Bearish
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Shares of several power-equipment makers fell sharply after India's finance ministry cleared four China-linked manufacturers with plants in India to participate in tenders for critical government power projects.
The decision is seen as a rollback of earlier bidding restrictions on such firms, stoking concerns that orders could shift away from domestic suppliers including BHEL, Siemens Energy, Hitachi Energy and GE Vernova.
On the day, BHEL dropped 4%, Siemens Energy sank 6.23%, Hitachi Energy slid 10% and GE Vernova tumbled 12%.
