Bharat Heavy Electricals (BHEL) jumped 5.89% to Rs 29.65 after the company commissioned a 270 MW thermal unit at the Bhadradri Thermal Power Project in Telangana.
Located at Manuguru in Bhadradri Kothagudem District of Telangana, the project was awarded to BHEL by Telangana State Power Generation Corporation. This is the first unit to be commissioned at this project and work on the balance three units is also in an advanced stage, the company said in a BSE filing.
BHEL's scope of work in the project includes design, engineering, manufacture, supply, construction, erection, testing and commissioning of four thermal sets of 270 MW on engineering, procurement and construction (EPC) basis.
The key equipments for the contract were manufactured at various plants of BHEL while the company's Nagpur-based division has done civil works and erection/commissioning of the equipment.
The government-owned firm will announce its fourth quarter earnings on 13 June 2020. Its consolidated net profit fell 17.21% to Rs 162.67 crore on a 23.33% decline in net sales to Rs 5,459.24 crore in Q3 FY20 over Q3 FY19.
BHEL is an integrated power plant equipment manufacturer with a vast installed base of more than 1,90,000 MW of power plant equipment globally. As of 31 March 2020, the Government of India holds 63.171% stake in the company.
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