BHEL spurts on eyeing global partnership for nuclear energy market

22 Dec 2011

Bharat Heavy Electricals (BHEL) is currently trading at Rs 236.65, up by 2.60 points or 1.11% from its previous closing of Rs 234.05 on the BSE.

The scrip opened at Rs 232.30 and has touched a high and low of Rs 236.40 and Rs 230.80 respectively. So far 393485 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 475.80 on 31-Dec-2010 and a 52 week low of Rs 225.00 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs 256.00 and Rs 225.00 respectively. The current market cap of the company is Rs 57286.08 crore.

The promoters holding in the company stood at 67.72% while Institutions and Non-Institutions held 26.22% and 6.05% respectively.

BHEL is mulling international tie-up to tap the nuclear reactor turbine market in the country. A Joint Venture Company (JVC) for execution of Conventional Island (Turbine side) for 700 mega watt electric (MWe) nuclear power plants is contemplated to be set up between Nuclear Power Corporation of India (NPCIL), BHEL and Alstom of France.

Further, the company is making efforts to associate with other international nuclear reactor vendors for possible cooperation to manufacture the components of higher size reactors.

In February 2011, BHEL entered into a Memorandum of Understanding (MOU) with NPCIL and Alstom for formation of JVC for execution of Conventional Island (Turbine side) of Nuclear Power Plant for 700 MWe and above.

In January 2011, an MOU also been signed between BHEL and GE-Hitachi (USA) for possible cooperation to Manufacture components of higher size reactors (1000 MWe and above).

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