Bharat Heavy Electricals rose 0.48% to Rs 95.15 at 12:35 IST on BSE after the company said it has commissioned hydro-electric project in Punjab equipped with its highest rating bulb turbines.
The announcement was made during trading hours today, 16 February 2018.Meanwhile, the S&P BSE Sensex was down 119.19 points, or 0.35% to 34,178.28.
On the BSE, 3.60 lakh shares were traded in the counter so far compared with average daily volumes of 12.07 lakh shares in the past one quarter. The stock had hit a high of Rs 96.35 and a low of Rs 94.60 so far during the day. The stock hit a 52-week high of Rs 121.77 on 25 April 2017. The stock hit a 52-week low of Rs 80.93 on 11 August 2017.
The stock had underperformed the market over the past 30 days till 15 February 2018, falling 5.16% compared with 2.24% fall in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 7.92% as against Sensex's 2.86% rise. The scrip, however, underperformed the market in past one year, sliding 7.46% as against Sensex's 21.19% rise.
The large-cap company has equity capital of Rs 734.28 crore. Face value per share is Rs 2.
Bharat Heavy Electricals (Bhel) said that with the commissioning of the second 9 megawatt (MW) hydro generating unit, the company has successfully commissioned the 18 MW Mukerian Hydro-Electric Project (HEP) Stage-II in Punjab. The first unit of the 18 MW Mukerian HEP, commissioned in May 2017 by Bhel, has been operating successfully.
Located on the Mukerian canal in Hoshiarpur district of Punjab, the 18 MW Mukerian project is a surface powerhouse of Punjab State Power Corporation (PSPCL). The generation from Mukerian HEP Stage-II will contribute significantly in reduction of greenhouse gas emissions and will help in achieving a low carbon development path for the nation.
The 9 MW bulb generating set is the highest rated bulb generating set supplied by Bhel. Bulb turbines are specialized, state-of-the-art hydro turbines used for low head and high discharge applications. Bulb turbine assembly consists of generator internally integrated with the turbine in the bulb, which is immersed in water.
Bhel's net profit rose 63.77% to Rs 153.19 crore on 5.04% increase in net sales to Rs 6494.44 crore in Q3 December 2017 over Q3 December 2016.
Bhel is an integrated power plant equipment manufacturer and one of the largest engineering and manufacturing companies in India. The Government of India holds 63.06% stake in Bhel (as per the shareholding pattern as on 31 December 2017).
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