BHEL surges on completing renovation and modernisation of 110 MW unit in UP

Bharat Heavy Electricals Ltd. | Engineering - Industrial Equipments | Capital Goods & Industrial Consumables | BSE: 500103 | NSE: BHEL

03 Jul 2015 Evaluate

Bharat Heavy Electricals is currently trading at Rs. 260.15, up by 4.60 points or 1.80% from its previous closing of Rs. 255.55 on the BSE.

The scrip opened at Rs. 257.00 and has touched a high and low of Rs. 262.00 and Rs. 256.10 respectively. So far 232496 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 299.50 on 04-Feb-2015 and a 52 week low of Rs. 195.10 on 07-Oct-2014.

Last one week high and low of the scrip stood at Rs. 262.00 and Rs. 243.10 respectively. The current market cap of the company is Rs. 63625.36 crore.

The promoters holding in the company stood at 63.06% while Institutions and Non-Institutions held 33.37% and 3.57% respectively.

Bharat Heavy Electricals (BHEL) has successfully completed renovation and modernization of 110 MW Unit-7 at Harduaganj Thermal Power Station (TPS) Plant of Uttar Pradesh Rajya Vidyut Utpadan Nigam (UPRVUNL). After successfully running for over 30 years, this unit, originally supplied and commissioned by BHEL, was undertaken for Renovation & Modernization (R&M).

Following the R&M, not only was the working life of the machine extended by another 15-20 years, the capacity was also uprated to 120 MW from its original capacity of 110 MW. With this, the company has once again showcased its inherent strength of being fully geared for R&M and uprating of old thermal power plants through in-house state-of-the-art technology, engineering capabilities and by incorporating the latest products/systems in renovated units.

Significantly, this is the eighth such unit successfully renovated, modernised and uprated by the company from its original rating of 110 MW to 120 MW. The achievement of full load of this unit comes close on the heels of the successful commissioning of Rihand Hydro Unit-3 (50 MW) of Uttar Pradesh Jal Vidyut Nigam (UPJVNL), following R&M.

Notably, the unit was more than 50 years old and supplied by M/s English Electric in 1962. In order to bridge the gap between demand and supply, especially in the context of limited financial resources available and difficulty in land acquisition and environment clearance it has become imperative for the country to look for other options for cheaper and faster generating capacity enhancement.