Bharat Heavy Electricals fell 2.39% to Rs 163.20 at 14:27 IST on BSE on profit booking after the stock jumped 11.10% in the preceding four trading sessions to Rs 167.20 on 28 February 2014, from a recent low of Rs 150.50 on 21 February 2014.
Meanwhile, the BSE Sensex was down 161.57 points, or 0.77%, to 20,958.55.
On BSE, so far 11.47 crore shares were traded in the counter, compared with an average volume of 6.97 lakh shares in the past one quarter.
The stock hit a high of Rs 169.50 and a low of Rs 161.40 so far during the day. The stock hit a 52-week high of Rs 210 on 28 February 2013. The stock hit a 52-week low of Rs 100.35 on 20 August 2013.
The stock had underperformed the market over the past one month till 28 February 2014, rising 1.73% compared with the Sensex's 2.11% rise. The scrip had, however, outperformed the market in past one quarter, rising 10.84% as against Sensex's 2.85% rise.
The large-cap company has an equity capital of Rs 489.52 crore. Face value per share is Rs 2.
Bharat Heavy Electricals (Bhel) announced that it bagged a engineering, procurement and construction (EPC) contract for setting up a power project involving three coal-fired supercritical thermal units of 660 megawatts (MW) each. The announcement was made on Sunday, 2 March 2014. Valued at around Rs 7900 crore, the EPC order for setting up NTPC's 1,980 MW North Karanpura Super Thermal Power Project (STPP) in Hazaribagh district of Jharkhand State, has been won by Bhel against International Competitive Bidding (ICB).
Significantly, for the first time in India, supercritical sets operating on higher Supercritical Steam Parameters (593 deg C / 593 deg C at 260 ata), resulting in reduced consumption of coal, will be supplied for the project. The machines will also be equipped with Air Cooled Condensers in order to address the issue of water scarcity in the area.
The order reinforces Bhel's leadership status in the execution of supercritical thermal power projects involving supply of state-of-art equipment, suited to Indian coal and Indian conditions. With this contract, Bhel has now won orders for supply and installation of 32 Supercritical Boilers and 27 Turbines of 660 MW, 700 MW and 800 MW ratings.
Bhel's scope of work involves design, engineering, manufacture, supply, construction, erection, testing & commissioning for the EPC Package comprising 3 units of 660 MW supercritical sets. The key equipment for the contract will be manufactured at Bhel's Trichy, Haridwar, Bhopal, Ranipet, Hyderabad, Jhansi and Bangalore plants with the company's Power Sector - Eastern Region to be responsible for civil works and erection / commissioning of the equipment.
Last week, Bhel announced that it won a contract worth Rs 321 crore for setting up a 206 megawatts hydro electric project in Punjab.
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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