Bhel rose 1.34% to Rs 189.45 at 14:05 IST on BSE after the company said it won a mega contract worth Rs 3000 crore from NTPC for supplying 2x800 megawatts supercritical boilers.
The company made the announcement during trading hours today, 24 March 2014.
Meanwhile, the BSE Sensex was up 309.40 points, or 1.42%, to 22,064.72.
On BSE, so far 2.35 lakh shares were traded in the counter, compared with an average volume of 24.29 lakh shares in the past one quarter.
The stock hit a high of Rs 190.85 and a low of Rs 186.70 so far during the day. The stock hit a 52-week high of Rs 207.90 on 22 May 2013. The stock 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 22 March 2014, rising 24.22% compared with the Sensex's 5.09% rise. The scrip had also outperformed the market in past one quarter, rising 12.93% as against Sensex's 3.20% rise.
The large-cap company has an equity capital of Rs 489.52 crore. Face value per share is Rs 2.
Bhel said it has won a prestigious order for the supply of 2x800 megawatts (MW) steam generators (boilers) with supercritical parameters for an upcoming power project in Odisha. Valued at nearly Rs 3000 crore, the contract has been placed on Bhel by NTPC for setting up the 2x800 MW steam generator package at Darlipali in Odisha.
With this order, Bhel has taken its tally of supercritical boilers of 660 MW, 700 MW and 800 MW ratings to 32 sets, cementing its leadership position in supercritical technology, the company said in a statement.
Bhel said its scope of work in the contract envisages design, engineering, manufacture, supply, erection, testing and commissioning of the steam generators and associated auxiliaries. The key equipment for the contract will be manufactured at Bhel's Trichy, Ranipet, Bhopal, Hyderabad and Bangalore plants while the company's Power Sector - Southern Region will be responsible for civil works and erection / commissioning of the equipment.
Bhel net profit fell 41.21% to Rs 694.81 crore on 15.41% decline in total income to Rs 8925.63 crore in Q3 December 2013 over Q3 December 2012.
Consequent to merger of Bharat Heavy Plates & Vessels (BHPV) with the company with effect from 30 August 2013, the financial results of HPVP unit (erstwhile BHPV) have been included in the above results. In view of this, figures for the current reporting period are not comparable with the figures in corresponding period of previous year, the company said in a statement.
Bhel has an outstanding order book position of about Rs 100600 crore as on 31 December 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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