Bharat Heavy Electricals rose 1.53% to Rs 268.40 at 12:35 IST on BSE after the company said it has successfully cornmissioned the second 500 megawatts unit at Tuticorin Thermal Power Station.
The announcement was made after market hours yesterday, 9 July 2015.
Meanwhile, the S&P BSE Sensex was down 2.07 points or 0.01% at 27,571.59.
On BSE, so far 3.41 lakh shares were traded in the counter as against average daily volume of 5.22 lakh shares in the past one quarter.
The large-cap electric equipment maker hit high of Rs 270.60 and a low of Rs 265.40 so far during the day. The stock hit a 52-week high of Rs 299.50 on 4 February 2015. The stock hit a 52-week low of Rs 195.10 on 7 October 2014.
Bharat Heavy Electricals (Bhel) said the first 500 megawatts (MW) unit of the project was commissioned by Bhel on 10 March 2015. Tuticorin Thermal Power Station (TPS) has been set up by NLC Tamil Nadu Power (NTPL), a joint venture of Neyveli Lignite Corporation (NLC) and Tamil Nadu Generation and Distribution Corporation (TANGEDCO). The project is situated near the Thoothukudi (Tuticorin) port on the shore of the Bay of Bengal. Earlier stages of Tuticorin TPS comprise five units of 210 MW, all installed by Bhel in three phases between 1979 and 1992.
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The BTG, Civil and BoP order for two 500 MW sets was placed on Bhel by NTPL reflecting the custome/s confidence in the company's technological excellence and capabilities in executing such projects.
Recently, Bhel had commissioned second unit of NLC'S 250 MW circulating.fluidized bed combustion (CFBC) based power plant at Neyveli. The other project being executed by Bhel for NLC is the prestigious, 2x500 MW pulverized lignite fired thermal power plant, also coming up at Neyveli, which is the highest rating set of its kind in the country.
Notably, Bhel commissioned 8,230 MW in the power sector utility segment in the country during the financial year 2014-15, surpassing Govt. of lndia's capacity addition target of 6,914 MW set for Bhel by l9%. ln all, Bhel commissioned/synchronized 11,941 MW in domestic and international markets during 2014-15, besides making major contribution to another 1600 MW by commissioning two boilers of 800 MW each.
Significantly, Bhel's installed capacity has crossed 155 GW, including 132 GW of domestic utility sets and the company has joined the elite club of international manufacturers that have supplied power generating equipment of more than 150 GW.
Bhel's net profit fell 51.8% to Rs 888.35 crore on 17.1% decline in total income to Rs 12702.05 crore in Q4 March 2015 over Q4 March 2014.
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