BHEL rises on bagging Rs 2,800 crore order to set up thermal power project in Maharashtra

Bharat Heavy Electricals (BHEL) is currently trading at Rs. 99.00, up by 0.20 points or 0.20% from its previous closing of Rs. 98.80 on the BSE.

The scrip opened at Rs. 98.80 and has touched a high and low of Rs. 100.25 and Rs. 95.70 respectively. So far 831510 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 121.77 on 25-Apr-2017 and a 52 week low of Rs. 80.93 on 11-Aug-2017.

Last one week high and low of the scrip stood at Rs. 105.50 and Rs. 97.75 respectively. The current market cap of the company is Rs. 35979.72 crore.

The promoters holding in the company stood at 63.06%, while institutions and non-institutions held 31.23% and 5.71% respectively.

BHEL has won order for setting up a 660 MW coal-based thermal power project with supercritical parameters in Maharashtra. Valued at over Rs 2,800 crore, the project will be set up as an expansion project (Unit 6) of Maharashtra State Power Generation Company’s (MAHAGENCO) Bhusawal Thermal Power Station (TPS) in Jalgaon district of Maharashtra.

The company’s scope of work for this brownfield expansion project includes design, engineering, manufacture, supply, construction, erection, testing and commissioning of 1x660 MW supercritical thermal set and civil works.

The 1,420 MW Bhusawal TPS is presently equipped with 2 sets each of 210 MW and 500 MW ratings. Notably, all these sets have been supplied and commissioned by BHEL. Reposing its confidence in BHEL's technological and project execution capabilities, MAHAGENCO has entrusted BHEL with the contract for setting up the first supercritical set at Bhusawal TPS. The key equipment for the contract will be manufactured at BHEL’s Trichy, Haridwar, Bhopal, Ranipet, Hyderabad, Jhansi, Thirumayam and Bengaluru plants while the company's Power Sector - Western Region shall be responsible for civil works and erection and commissioning of the equipment.

The company has a long standing partnership with MAHAGENCO and has a significant share of 81% in the coal-based power stations installed in the state by the utility. BHEL is the market leader in both the subcritical as well as the supercritical segments in the country. The company has secured orders for 50 supercritical Steam Generators (SG) and 43 supercritical Steam Turbine Generators (STG) - the highest in the country by any power equipment manufacturer. Of these, 15 SGs and 13 STGs have already achieved capacity addition.