BHEL jumps on selling 0.68% stake in Neelachal Ispat Nigam
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Bharat Heavy Electricals is currently trading at Rs. 46.25, up by 0.65 points or 1.43% from its previous closing of Rs. 45.60 on the BSE.
The scrip opened at Rs. 45.95 and has touched a high and low of Rs. 46.35 and Rs. 45.70 respectively. So far 389432 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 78.65 on 13-Oct-2021 and a 52 week low of Rs. 41.40 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 46.65 and Rs. 44.40 respectively. The current market cap of the company is Rs. 16087.13 crore.
The promoters holding in the company stood at 63.17%, while Institutions and Non-Institutions held 16.66% and 20.17% respectively.
Bharat Heavy Electricals (BHEL) has sold and transferred 0.68% of the issued and paid-up equity share capital of Neelachal Ispat Nigam to Tata Steel Long Products (TSLP), the successful bidder selected through the two-stage auction procedure involving a competitive bidding process, run under the aegis of Department of Investment & Public Asset Management (DIPAM), for a consideration determined in accordance with and subject to the terms of the Share Purchase Agreement, Escrow Agreement and other related ancillary agreements.
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.
