BHEL moves up on bagging order worth Rs 300 crore
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BHEL is currently trading at Rs. 82.60, up by 2.65 points or 3.31% from its previous closing of Rs. 79.95 on the BSE.
The scrip opened at Rs. 80.85 and has touched a high and low of Rs. 83.30 and Rs. 80.35 respectively. So far 1053702 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 91.45 on 05-Dec-2022 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. 83.30 and Rs. 78.55 respectively. The current market cap of the company is Rs. 28256.94 crore.
The promoters holding in the company stood at 63.17%, while Institutions and Non-Institutions held 23.20% and 13.64% respectively.
In the face of stiff competitive bidding, Bharat Heavy Electricals (BHEL) has won an order for the Renovation & Modernisation (R&M) of steam turbines at Ukai Thermal Power Station (TPS) in Gujarat. Valued at about Rs 300 crore, the order for R&M of the 200 MW Unit-3 and the 210 MW Unit-5, has been placed on BHEL by Gujarat State Electricity Corporation. Significantly, BHEL is also the Original Equipment Manufacturer (OEM) of these turbine sets which have been successfully operating for around 40 years, before being taken up for R&M.
The R&M work being undertaken by BHEL will not only extend the life and reliability of Units-3&5 at Ukai TPS, but also improve the efficiency levels of these turbines addressing the problems of technical obsolescence, thereby making them more environment friendly. BHEL’s scope of work in the contract includes design, engineering, manufacturing, supply, dismantling, erection, testing and commissioning of the steam turbines and associated auxiliaries. The equipment for the project will be supplied by BHEL’s manufacturing units at Haridwar, Trichy, Bengaluru and Bhopal while the execution on site will be undertaken by the company’s Power Sector - Western Region, Nagpur.
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.
