Bharat Heavy Electricals Limited (BHEL) witnessed a significant surge in its share price during early trade on February 9, following the announcement of a substantial order worth Rs 5,500 crore from Haryana Power Generation Corporation Ltd. At 9:24 am, BHEL’s stock was quoting at Rs 234.10, marking an increase of Rs 3.20 or 1.39 percent on the Bombay Stock Exchange (BSE).
The order entails the establishment of a 1×800 MW Ultra Supercritical Expansion Unit at the Deen Bandhu Chhotu Ram Thermal Power Plant (DCRTPP) located in Yamuna Nagar. BHEL will be responsible for the supply of equipment, including the boiler, turbine, generator, and associated auxiliaries, along with electrical and civil works. Additionally, the company will undertake the construction and commissioning of the unit, with the contract slated for completion within 57 months.
In anticipation of this development, BHEL’s board of directors is scheduled to convene on February 13 to endorse the unaudited financial results for the quarter ended December 31, 2023.
This recent order follows closely on the heels of another significant achievement for BHEL in January, wherein the company secured an Engineering, Procurement, and Construction (EPC) package for a 3×800 MW NLC Talabira Thermal Power Project (NTTPP) situated in Jharsuguda district, Odisha.
Reflecting on the company’s stock performance, BHEL shares touched a 52-week high of Rs 243.30 on February 5, 2024, contrasting with a 52-week low of Rs 66.30 recorded on February 27, 2023. Presently, the stock is trading approximately 3.78 percent below its 52-week high and a remarkable 253.09 percent above its 52-week low.
The latest order underscores BHEL’s continued prominence in the power sector, reaffirming its position as a leading provider of comprehensive solutions for thermal power projects. As the company advances with its strategic initiatives and solidifies its presence in the market, investors remain optimistic about its growth prospects, driving the upward trajectory of its stock.
