BHEL surges on extending Gas Turbines technology agreement with General Electric Technology GmbH Switzerland
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Bharat Heavy Electricals is currently trading at Rs. 90.14, up by 3.25 points or 3.74% from its previous closing of Rs. 86.89 on the BSE.
The scrip opened at Rs. 87.12 and has touched a high and low of Rs. 90.78 and Rs. 87.12 respectively. So far 714982 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. 44.40 on 06-Jul-2022.
Last one week high and low of the scrip stood at Rs. 90.90 and Rs. 85.05 respectively. The current market cap of the company is Rs. 31519.64 crore.
The promoters holding in the company stood at 63.17%, while Institutions and Non-Institutions held 24.07% and 12.76% respectively.
Bharat Heavy Electricals (BHEL) has extended its Gas Turbines technology agreement with General Electric Technology GmbH Switzerland. BHEL in partnership with GE is the market leader for Gas Turbines in India.
With BHEL-GE partnership in place since 1986, BHEL has been manufacturing and supplying GE designed Gas Turbines in domestic as well as overseas market. Till date, BHEL has supplied about 230 GE design Gas Turbines to various oil refineries, process industries and utilities in India and to various customers worldwide. Under this extension agreement, BHEL has gained access and enhanced rights for existing, uprated and new Gas Turbine models.
As per the agreement, BHEL shall also be able to supply GTs with fuel blends viz. Hydrogen, Methanol, Syngas etc. and in hybrid configuration contributing further towards accelerating the energy transition in India.
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.
