Bharat Heavy Electricals rose 0.17% to Rs 229.90 at 10:13 IST on BSE in volatile trade after the company bagged an order valued at Rs 68 crore for setting up a solar power plant in Karnataka.
The company made the announcement after market hours on Monday, 28 July 2014. The stock market was closed on Tuesday, 29 July 2014 on account of Ramzan ID.
Meanwhile, the BSE Sensex was down 11.16 points, or 0.04%, to 25,980.07
On BSE, so far 82,018 shares were traded in the counter, compared with an average volume of 9.17 lakh shares in the past one quarter.
The stock was volatile. The stock rose as much as 0.21% at the day's high of Rs 230 so far during the day. The stock fell as much as 1.04% at the day's low of Rs 227.10 so far during the day. The stock hit a 52-week high of Rs 291.50 on 26 May 2014. The stock hit a 52-week low of Rs 100.35 on 20 August 2013.
The stock had underperformed the market over the past one month till 28 July 2014, falling 6.29% compared with 3.55% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 22.89% as against Sensex's 14.84% rise.
The large-cap company has an equity capital of Rs 489.52 crore. Face value per share is Rs 2.
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Bharat Heavy Electricals (Bhel) after market hours on Monday, 28 July 2014, said that the company has bagged an order valued at Rs 68 crore for setting up a 10 MWp grid connected solar power plant for Karnataka Power Corporation (KPCL). The plant will be set up at Shivanasamudram, Belakavadi Village in Mandya District of Karnataka. Bhel's scope of work in the turnkey contract envisages design, engineering, manufacture, supply, erection, testing and commissioning of the 10 MW solar power plant including grid inter-connection, operation and maintenance (O&M) of the plant for 3 years.
Bhel's net profit fell 43% to Rs 1844.59 crore on 21.7% decline in net sales to Rs 14754.89 crore in Q4 March 2014 over Q4 March 2013.
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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