 "BHEL stock up 3% on multiple order wins of Rs 11,000 cr; more details here")
BHEL stock up on order wins: Nuclear power company Bharat Heavy Electricals Limited (BHEL) shares rose up to 2.61 per cent to hit an intraday high of Rs 303.90 per share on Monday, August 26, 2024.
The shares of BHEL rallied after the company announced that it has secured multiple orders worth over Rs 11,000 crore from Adani Power and its subsidiary Mahan Energen Limited.
In an exchange filing, BHEL said, “Bharat Heavy Electricals Limited (BHEL) has signed a contract agreement with Adani Power Ltd. and its subsidiary (Mahan Energen Limited) for setting up 3 nos. Supercritical Thermal Power projects (each of 2x800 MW rating) in Kawai, Rajasthan & Mahan, Madhya Pradesh.”
The contract agreement was signed on August 25, 2024 for supply of equipment (boiler, turbine, generator) and supervision of erection and commissioning for three power projects each of 2x800 MW based on Supercritical Technology at Kawai (Phase-II) Rajasthan & Kawai (Phase-III) Rajasthan of (APL) and at Mahan (Phase-III), Madhya Pradesh of MEL.
The supply of projects to be completed in 49 months (Kawai Phase-II), 52 months (Kawai Phase-III) and 55 months (Mahan Phase-III), the company said. The value of the three orders is aggregating to more than 11,000 crore, excluding Goods and Services Tax (GST), it added.
Bharat Heavy Electricals Ltd (BHEL) is among the leading power plant equipment manufacturers in the country. The company specialises in the design, engineering, manufacturing, installation, testing, commissioning, and servicing of a diverse array of products and services.
BHEL caters to key sectors such as power, transmission, industry, transportation, renewable energy, oil & gas, and defence. As the premier engineering and manufacturing enterprise in the country, BHEL is owned and operated by the Government of India.
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The market capitalisation of the company is Rs 1,03,417.28 crore, according to Bombay Stock Exchange (BSE). The company falls under BSE 200 category.
The 52-week high of BHEL stock is Rs 303.90 per share while its 52-week low is Rs 294.80 apiece.
At 1:05 PM, shares of BHEL were trading 0.34 per cent higher at Rs 297.15 per share. By comparison, BSE Sensex was trading 0.81 per cent higher at 81,744.73 levels.