BHEL surges on securing Rs 450 crore contract

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

18 Jun 2013 Evaluate

Bharat Heavy Electricals (BHEL) is currently trading at Rs. 183.70, up by 1.35 points or 0.74% from its previous closing of Rs. 182.35 on the BSE.

The scrip opened at Rs. 182.60 and has touched a high and low of Rs. 184.20 and Rs. 180.75 respectively. So far 179867 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 272.45 on 05-Oct-2012 and a 52 week low of Rs. 174.20 on 13-Jun-2013.

Last one week high and low of the scrip stood at Rs. 184.80 and Rs. 174.20 respectively. The current market cap of the company is Rs. 44754.37 crore.

The promoters holding in the company stood at 67.72% while Institutions and Non-Institutions held 27.17% and 5.11% respectively.

In the face of stiff competition under International Competitive Bidding (ICB), Bharat Heavy Electricals (BHEL) has won a prestigious order worth Rs 450 crore for the Energy Efficient Renovation & Modernization (EE R&M) of a 210 MW thermal unit in Maharashtra. With this order, BHEL has forayed into the Energy Efficient Renovation, Modernization and Upgrading business.

The World Bank-funded contract, which has been placed by the Maharashtra State Power Generation Corporation (MSPGCL), envisages design, supply and installation for the EER&M of the 1x210 MW Boiler, Turbine and Generator package for the 210 MW Unit 6 at Koradi Thermal Power Station (TPS).

BHEL’s scope of work in the current contract involves design, engineering, manufacture, supply and erection & commissioning of critical parts of the Boiler, Turbine and Generator, along with their Controls & Instrumentation. The order also envisages uprating of the unit. Further, major equipment for the above contract will be manufactured and supplied by BHEL’s plants at Trichy, Ranipet, Haridwar, Hyderabad and Bangalore.