Bharat Heavy Electricals (BHEL) is currently trading at Rs. 273.80, up by 12.95 points or 4.96% from its previous closing of Rs. 260.85 on the BSE.
The scrip opened at Rs. 262.00 and has touched a high and low of Rs. 274.75 and Rs. 261.00 respectively. So far 5,45,000 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. 246.20 on 24-Nov-2011.
Last one week high and low of the scrip stood at Rs. 278.20 and Rs. 246.20 respectively. The current market cap of the company is Rs. 67,015.00 crore.
The promoters holding in the company stood at 67.72% while Institutions and Non-Institutions held 26.22% and 6.05% respectively.
BHEL will set up power equipment fabrication plant in Bhandara district at Maharashtra. The board at its meeting held on November 14, 2011 has given the in-principle approval for the same. Earlier on November 25, 2010, the company had proposed its interest to set up the equipment fabrication plant.
Recently, the company had bagged major contract worth Rs 4,071 crore from Singareni Collieries Company (SCCL) for setting up 1,200 MW thermal power plant in Andhra Pradesh. The order comprises supply and installation of the main plant package for a power project in Andhra Pradesh, involving two thermal power generating units of 600 MW each.
The company reported a standalone net profit of Rs 1412.03 crore for the second quarter of the current fiscal versus Rs 1142.28 crore for the quarter ended September 30, 2010, registering a growth of 23.61%. The net sales of the company grew 24.43% from Rs 8652.64 crore for the quarter ended September 30, 2010 to Rs 10765.37 crore for the quarter ended September 30, 2011.