BHEL hits 52-week high on winning order from NTPC

Shares of Bharat Heavy Electricals Ltd (BHEL) on Thursday surged as much as 2.3% to hit a 52-week high of ₹121.45 in early trade, a day after the company won an order from NTPC to install 2x800 MW (megawatt) supercritical power project in Chattisgarh.

The share price of the public sector undertaking opened at ₹121.15, up 2.06%, as against the closing price of the previous session at ₹121.15. At 10:39 a.m., the company's share price was trading 0.34% higher at ₹119.05.

At present, the share price of BHEL is trading 121.8% higher than the 52-week low of ₹54.75. The company’s market capitalisation stood at ₹41,489, with more than 16.73 lakh shares exchanging hands as against the two-week average of 30.88 lakh shares. In the past one month, three months and one year, the company has given 14.27%, 45.18% and 102.21% in returns, respectively.

According to BHEL, the company has secured the order for setting up the 2x800 MW supercritical thermal power project stage-II at Lara in Chhattisgarh. The company will design, engineer, manufacture, supply, construct, erect, testing & commission civil & structural works for the EPC package with a steam generator capable of biomass co-firing, steam turbine, generator and auxiliaries, emission control systems, control and instrumentation, the balance of plant packages etc. The company aims to complete Unit-1 of the project in 48 months and Unit-2 in 52 months.

The development comes days after the company won an order worth ₹2,241.86 crore from NHPC Limited for the design, manufacture, supply, erection and commissioning of an electro-mechanical package involving turbine, generator, digital governing system, static excitation system, transformers, bus Rractors, gas insulated switchgear, outdoor pot yard and switchyard equipment and electrical and mechanical BoPs for 12x240 MW electro-mechanical works of Dibang Multipurpose Project at Roing in Arunachal Pradesh. Major equipment for the contract will be manufactured by BHEL’s plants at Bhopal, Bangalore, Jhansi and Rudrapur. The on-site execution activities will be carried out by the company's Power Sector - Eastern Region division, Kolkata, says the company.

Last week, the company bagged a ₹4,000 crore order from Mahan Energen Limited (formerly known as Essar Power MP Limited), a wholly-owned subsidiary of Adani Power Limited) for the supply of equipment such as boiler turbine and generator for 2x800 MW power project based on supercritical technology at Bandhaura, Madhya Pradesh. Boiler and Turbine Generator are to be manufactured at BHEL’s Trichy and Haridwar plants respectively, the company says. Unit-1 of the project is to be executed within 31 months, whereas Unit-2 of the project is to be executed in 35 months.  

(DISCLAIMER: The views and opinions expressed by investment experts on fortuneindia.com are either their own or of their organisations, but not necessarily that of fortuneindia.com and its editorial team. Readers are advised to consult certified experts before taking investment decisions.)