Bhel was down 0.33% to Rs 198.65 at 13:06 IST on BSE, recovering from the day's low after the company said it won a contract for setting up a 120 megawatts hydro electric project in Uttarakhand.
The company made the announcement during trading hours today, 31 March 2014.
Meanwhile, the BSE Sensex was up 37.97 points, or 0.17%, to 22,377.94.
On BSE, so far 2.15 lakh shares were traded in the counter, compared with an average volume of 24.02 lakh shares in the past one quarter.
The stock fell 0.88% at the day's low of Rs 197.55. The stock rose 1.20% at the day's high of Rs 201.70 in early trade.
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 28 March 2014, rising 19.20% compared with the Sensex's 5.78% rise. The scrip had also outperformed the market in past one quarter, rising 15.04% as against Sensex's 5.41% rise.
The large-cap company has an equity capital of Rs 489.52 crore. Face value per share is Rs 2.
Valued at Rs 125 crore, the order for setting up of hydro generating sets and associated electro-mechanical works for the 120 megawatts (MW) Vyasi hydro electric project has been placed on Bhel by Uttarakhand Jal Vidyut Nigam (UJVNL), as its offer was found techno-economically the best, Bhel said in a statement.
Located in Dehradun district of Uttarakhand, the Vyasi hydro electric project is a run of the river scheme on the river Yamuna. Water from the Vyasi reservoir will be diverted by constructing an 86 metre high dam through a 2.7 kilometre long head race tunnel to the surface power house at Hathiari village. The project comprises two hydro generating sets of 60 MW each with vertical Francis turbines, the company said.
Bhel said its scope of work in the contract envisages design, manufacture, supply, installation and commissioning of hydro generating sets and associated electro mechanical works. While the hydro generating sets shall be supplied by Bhel's Bhopal unit, the transformers and control & monitoring system will be supplied by the company's Jhansi unit and electronics division, Bangalore, respectively. The erection and commissioning of the equipment shall be carried out by Bhel's power sector - Northern Region (PS-NR).
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.
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