BHEL trades in green on the BSE

BHEL is currently trading at Rs. 231.70, up by 2.90 points or 1.27% from its previous closing of Rs. 228.80 on the BSE.

The scrip opened at Rs. 228.95 and has touched a high and low of Rs. 232.20 and Rs. 227.15 respectively. So far 77349 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 364.00 on 08-Sep-2011 and a 52 week low of Rs. 197.80 on 18-May-2012.

Last one week high and low of the scrip stood at Rs. 235.50 and Rs. 226.40 respectively. The current market cap of the company is Rs. 56478.37 crore.

The promoters holding in the company stood at 67.72% while Institutions and Non-Institutions held 26.05% and 6.23% respectively.

Bharat Heavy Electricals (BHEL), public sector power equipment major, has started concluding its joint venture, which was formed in 2007 with the Tamil Nadu Electricity Board, Udangudi Power Corporation. In February 2012, the Government of Tamil Nadu pulled the project out of the joint venture company and planned to do it by itself claiming lack of co-operation on the part of BHEL as the reason.

The company asked the Government of Tamil Nadu asking it to reverse its decision, but nothing happened. The first of the two power plants (Unit II) of the North Chennai Thermal Power Project will go on stream in October and the other will, in December. BHEL is involved in all these projects as the equipment supplier.