BHEL rises on bagging order worth Rs 40 crore from Arcelor Mittal group

02 Dec 2011

Bharat Heavy Electricals (BHEL) is currently trading at Rs 275.85, up by 0.60 points or 0.22% from its previous closing of Rs 275.25 on the BSE.

The scrip opened at Rs 275.00 and has touched a high and low of Rs 278.55 and Rs 271.80 respectively. So far 290038 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 295.50 and Rs 271.80 respectively. The current market cap of the company is Rs 67370.19 crore.

The promoters holding in the company stood at 67.72% while Institutions and Non-Institutions held 26.22% and 6.05% respectively.

BHEL has made its maiden entry in the Ukrainian market with an order for a Steam Turbine Generator (STG) package. The contract for 27 MW STG package has been placed on BHEL by one of the world’s leading steel majors, Arcelor Mittal group. Valued at nearly Rs 40 crore, the power generating equipment will meet the Captive Power requirements of Arcelor Mittal’s steel plant at Kryviy Rih in Ukraine.

The company’s scope of work in this contract includes design, engineering, manufacture, supply and supervision of erection and commissioning of 27 MW Steam Turbine & Generator Package including the state of the art Controls and Instrumentation (C&I). The project is to be executed by the company in a schedule of 18 months. The Steam Turbine Generators and the C&I systems are to be manufactured at the BHEL’s Hyderabad plant and Electronics division, Bangalore respectively.

BHEL has been exporting power and industry segment products and services for approximately 40 years. Up to June, 2011, BHEL had cumulatively installed a capacity of over 8,500 MW outside India in 21 countries and approximately 5,200 MW in 19 countries under various stages of execution. Up to June, 2011, BHEL has exported products and services to more than 70 countries and is taking strides to become a global player by further enhancing its presence in international markets.

Following this order, BHEL has further consolidated its presence in Commonwealth of Independent States (CIS). The company has also set up a marketing office at Almaty in Kazakhstan. Establishing its footprints across the CIS region, BHEL has earlier successfully executed several contracts for various products and services in Russia, Azerbaijan, Kazakhstan and Tajikistan. Presently, the company is executing a Gas Turbine based Combined Heat and Power Plant project in Belarus.

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