BHEL surges on inking pact with Coal India, NLC India
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Bharat Heavy Electricals is currently trading at Rs. 62.00, up by 1.35 points or 2.23% from its previous closing of Rs. 60.65 on the BSE.
The scrip opened at Rs. 62.05 and has touched a high and low of Rs. 62.85 and Rs. 61.60 respectively. So far 470980 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 77.75 on 14-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. 63.65 and Rs. 60.10 respectively. The current market cap of the company is Rs. 21501.74 crore.
The promoters holding in the company stood at 63.17%, while Institutions and Non-Institutions held 16.81% and 20.02% respectively.
Bharat Heavy Electricals (BHEL) has entered into an agreement with Coal India (CIL) and NLC India for setting up coal gasification based plants in the country. BHEL and CIL will jointly set up coal gasification based plants under the agreement. Apart from this, NLC India will establish a lignite-based gasification pilot plant. The agreement is being looked upon as a big step towards achieving the national target of gasification of 100 million tonnes of coal.
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.
