Mumbai, July 3 -- As per reports, TBEA Energy, Nanjing Electric India, New Northeast Electric India and Taikai Electric (India) will be allowed to participate in the tenders.

Consequent to this development, shares of GE Vernova T&D (down 8.95%), Hitachi Energy (down 7.89%), CG Power (down 7.12%), TD Power System (down 6%), Thermax (down 5.65%), Transformers and Rectifiers (India) (down 5.31%), GE Power India (down 5%) and BHEL (down 4%) declined.

According to a domestic research firm, the participation of these Chinese companies increases competition for Indian grid equipment makers.

TBEA Energy reportedly has a unit for extra high-voltage transformers and Nanjing Electric is reportedly involved in making smaller geographic information...