Bharat Heavy Electricals rose 1.01% to Rs 180.30 at 13:05 IST on BSE after the company said it has successfully commissioned a 126 megawatts gas turbine power generating unit in Oman for Petroleum Development Oman.
The announcement was made during trading hours today, 8 May 2014.
Meanwhile, the S&P BSE Sensex was up 3.79 points or 0.02% at 22,327.69.
On BSE, so far 1.18 lakh shares were traded in the counter as against average daily volume of 24.44 lakh shares in the past one quarter.
The stock hit a high of Rs 181 and a low of Rs 179 so far during the day. The stock had hit a 52-week high of Rs 207.90 on 22 May 2013. The stock had 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 7 May 2014, advancing 0.37% compared with the Sensex's 0.09% fall. The scrip had also outperformed the market in past one quarter, surging 14.75% as against Sensex's 9.56% rise.
The large-cap company has equity capital of Rs 489.52 crore. Face value per share is Rs 2.
Bharat Heavy Electricals (BHEL) said that the 126 megawatts (MW) Fr-9E gas turbine generator (GTG) has been successfully commissioned at Qarn Alam-3 power project of Petroleum Development Oman (PDO). This is the second successive project after the successful commissioning of the 2x126 MW Fr-9E PDO Amal GTG project in 2012, Bhel said in a statement.
The gas turbine generator units were engineered, manufactured and supplied by BHEL's Hyderabad plant while the state-of-the-art control system has been supplied by the company's Bangalore works. These gas turbine generator units have been supported with the required auxiliaries supplied by BHEL, the company said in a statement.
BHEL said that the Sultanate of Oman is one of the key export territories of BHEL with various benchmark references established by the company. Beginning its success story with its first order in Oman for Wadi Al Jizzi Power station Project in 1995-96 to the Qarn Alam-3 project in 2014, BHEL has secured and executed 14 major contracts which include the supply of 16 gas turbine sets in Oman alone in the past nearly two decades, the company said in a statement.
These contracts were received from diverse Sectors viz. Petroleum (Petroleum Development Oman); Utility (Ministry of Housing, Electricity & water Oman) and Industry (Oman Cement Company), which is a testimony of BHEL's strong presence and acceptability in the Oman market, the company said. BHEL supplied sets today account for over 50 per cent of the power generating capacity of Petroleum Development Oman, the company said in a statement.
BHEL'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.
Powered by Capital Market - Live News
