Bharat Heavy Electricals was up 0.54% at Rs 121 at 13:59 IST on BSE after the company's announcement that it has successfully commissioned a 195 megawatts thermal power generation unit for a customer in Bihar.
Meanwhile, the S&P BSE Sensex was off 86.72 points or 0.33% at 26,310.05.
On BSE, so far 3.5 lakh shares were traded in the counter as against average daily volume of 9.88 lakh shares in the past one quarter. The stock hit a high of Rs 122 and a low of Rs 120 so far during the day. The stock had hit 52-week high of Rs 289.85 on 21 July 2015. The stock had hit 52-week low of Rs 90.40 on 29 February 2016. The stock had underperformed the market over the past one month till 13 June 2016, sliding 1.92% compared with the Sensex's 3.56% rise. The scrip had outperformed the market in past one quarter, surging 16.11% as against the Sensex's 6.79% rise.
The large-cap company has equity capital of Rs 489.52 crore. Face value per share is Rs 2.
Bharat Heavy Electricals (Bhel) has commissioned the remaining 195 megawatts (MW) of the two-stage 390 MW Muzaffarpur thermal power station of Kanti Bijlee Utpadan Nigam (KBUNL), a joint venture of NTPC and BSPGCL. Bhel is the leading supplier of coal-based main plant equipment to NTPC and its joint ventures, with an over 80% share in their installed capacity.
Bhel's net profit fell 59.5% to Rs 359.58 crore on 20.8% fall in net sales to Rs 9792.04 crore in Q4 March 2016 over Q4 March 2015.
State-run Bharat Heavy Electricals (Bhel) is an integrated power plant equipment manufacturer. It is one of the largest engineering and manufacturing companies in India engaged in the design, engineering, manufacture, construction, testing, commissioning and servicing of a wide range of products and services for core sectors of the economy, viz. power, transmission, industry, railways, renewable energy, oil & gas, water and defence. The Government of India currently holds 63.06% stake in Bhel (as per the shareholding pattern as on 31 March 2016)
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