Bhel rose 2.56% to Rs 270.55 at 14:54 IST on BSE after the company said it commissioned the fourth and final 130 megawatt hydro generating unit at Parbati III Hydro Electric Project in Himachal Pradesh.
The company made the announcement during trading hours today, 23 May 2014.
Meanwhile, the BSE Sensex was up 241.10 points, or 0.99%, to 24,615.50.
On BSE, so far 9.41 lakh shares were traded in the counter, compared with an average volume of 26.48 lakh shares in the past one quarter.
The stock hit a high of Rs 279.50 and a low of Rs 265.50 so far during the day. The stock hit a 52-week high of Rs 287.80 on 20 May 2014. The stock hit a 52-week low of Rs 100.35 on 20 August 2013.
The stock had outperformed the market over the past one month till 22 May 2014, rising 41.33% compared with 7.10% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 75.28% as against Sensex's 17.75% rise.
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The large-cap company has an equity capital of Rs 489.52 crore. Face value per share is Rs 2.
With the commissioning of the fourth and final 130 megawatt (MW) hydro generating unit at Parbati III Hydro Electric Project (HEP) in Himachal Pradesh, Bhel has successfully commissioned all the four units of the 520 MW underground hydro power plant of NHPC. The first three units at Parbati III HEP were commissioned by Bhel in February and March 2014.
Parbati III HEP powerhouse is located near village Bihali on the left bank of river Sainj, in Kullu district of Himachal Pradesh, the company said in a statement.
Bhel said its scope of work in the project included supply and installation of 4 numbers 130 MW Francis turbines, static excitation system, main inlet valves, digital governors, state-of-the-art control & monitoring system (SCADA), associated station auxiliaries, Gas Insulated Switchgear (GIS) and electrical & mechanical Balance of Plant (BoP).
Bhel has a long standing association with NHPC beginning with setting up of NHPC's first hydro generating plant at Baira Siul (3x60 MW), by Bhel in 1981. With the addition of another 130 MW, Bhel's contribution to NHPC's total generating capacity now stands at 2,884 MW. Bhel said it is presently executing three more hydro projects of NHPC viz. 3x110 MW Kishanganga HEP in J&K, 4x40 MW Teesta Low Dam IV HEP in West Bengal and 4x200 MW Parbati II in Himachal Pradesh, which are in different stages of execution.
Bhel is presently executing Hydro power projects of around 5,000 MW which are under various stages of implementation. In Himachal Pradesh, another hydro project at Rampur, being set up by Bhel, is in an advanced stage of commissioning.
Significantly, so far, more than 500 hydro generating sets of various ratings have been contracted on Bhel in India and abroad, with a cumulative capacity of more than 26,000 MW, out of which, equipment for about 5,000 MW generating capacity has been contracted outside India. Notably, Nine hydro sets totalling 641 MW were commissioned by Bhel in the year 2013-14 including 3 Units of Parbati and 3 Units of Nimoo Bazgo of NHPC, the company said.
Bhel said it has been committed to the nation's power development programme and has reaffirmed its commitment to the Indian Power Sector by equipping itself by way of contemporary technology, state-of-the-art manufacturing facilities and skilled technical manpower. Responding to the growth in the nation's demand for power equipment, Bhel has enhanced its manufacturing capacity to 20,000 MW per annum.
Bhel will announce Q4 results on 29 May 2014. The company's net profit fell 41.2% to Rs 694.81 crore on 15.7% decline in net sales to Rs 8462.38 crore in Q3 December 2013 over Q3 December 2012.
Bhel is the largest engineering and manufacturing enterprise in India in the energy related/infrastructure sector. The company caters to the core sectors including power, transmission, industry, transportation, renewable energy, oil & gas and defence.
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