BHEL moves up on bagging order worth Rs 7,300 crore

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

15 Dec 2017 Evaluate

Bharat Heavy Electricals is currently trading at Rs. 89.85, up by 0.20 points or 0.22% from its previous closing of Rs. 89.65 on the BSE.

The scrip opened at Rs. 89.90 and has touched a high and low of Rs. 91.80 and Rs. 89.35 respectively. So far 686875 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 121.83 on 25-Apr-2017 and a 52 week low of Rs. 77.47 on 27-Dec-2016.

Last one week high and low of the scrip stood at Rs. 92.65 and Rs. 88.20 respectively. The current market cap of the company is Rs. 32987.53 crore.

The promoters holding in the company stood at 63.06%, while Institutions and Non-Institutions held 31.54% and 5.40% respectively.

Bharat Heavy Electricals (BHEL) has won an order for setting up a 1,320 MW Supercritical Thermal Power Project (TPP) in Tamil Nadu. Valued at over Rs 7,300 crore, the order for setting up the 2x660 MW Udangudi TPP has been placed on BHEL by Tamil Nadu Generation and Distribution Corporation (TANGEDCO). Significantly, this is the fourth order for supercritical sets finalised in the last three years by TANGEDCO, and all the four orders have been won by BHEL.

The previous three orders viz 2x660 MW Ennore SEZ, 1x800 MW North Chennai Supercritical TPP Stage-III and 2x800 MW Uppur TPP were also secured by BHEL on ICB basis, reinforcing its position as the frontrunner in the power generation equipment industry in India. The implementation of the new projects will help foster growth in Tamil Nadu and provide easy access to electricity to the people of the state. At present, BHEL has a significant share of 83% in the state's coal-based generating capacity and has been a major partner in the power development programme of Tamil Nadu.

BHEL is India’s largest engineering and manufacturing company of its kind. It is a power plant equipment manufacturer and operates as an engineering and manufacturing company.