01-01-1970 12:00 AM | Source: Accord Fintech
BHEL gains on securing first ever overseas turnkey contract for grid connected Solar PV Power Plant
News By Tags | #183 #572

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Bharat Heavy Electricals is currently trading at Rs. 52.20, up by 0.20 points or 0.38% from its previous closing of Rs. 52.00 on the BSE.

The scrip opened at Rs. 52.00 and has touched a high and low of Rs. 52.80 and Rs. 51.40 respectively. So far 3474089 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 56.50 on 09-Mar-2021 and a 52 week low of Rs. 19.20 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 56.25 and Rs. 49.05 respectively. The current market cap of the company is Rs. 18176.37 crore.

The promoters holding in the company stood at 63.17%, while Institutions and Non-Institutions held 17.85% and 18.98% respectively.

Bharat Heavy Electricals (BHEL) has achieved yet another milestone in international business by securing its maiden overseas turnkey contract for a grid-connected 8 MWac Solar Photovoltaic (PV) power plant. The solar farm will be set up by BHEL at Tamarind Falls, Henrietta (Phase II), Mauritius on Engineering, Procurement and Construction (EPC) basis.

Significantly, the project is funded under Govt. of India’s Line of Credit (LOC) and has been secured by BHEL through a competitive bidding process. The project will be executed by BHEL’s Solar Business Division, Bengaluru and International Operations Division, New Delhi. Notably, the solar project in Mauritius marks the consolidation of BHEL’s presence in Africa, where it has been active for more than four decades with electricity generation projects (approx. 2,100 MVV) and equipment supplies in 23 African countries.

BHEL is India’s largest engineering and manufacturing company of its kind. It is a power plant equipment manufacturer and operates as an engineering and manufacturing company.