GE Vernova T&D (GVTD) is a solid play on the strong and growing theme of power transmission in India and across the world. We like the company on the back of (1) Superior execution capabilities in HVDC projects (2) Strong demand drivers and tailwinds for base business and (3) Robust HVDC Pipeline 4) Solid positioning in exports. GVTD is benefitting from strong demand from end user industries such as utilities, data centres, renewables and railways. GVTD has secured the 2.5 GW Khavda-South Olpad HVDC project along with the Chandrapur HVDC refurbishment project in FY26. HVDC is poised to be a solid...