BHEL shares gain on extension of gas turbine deal with GE Technology
Under this extension agreement, BHEL has gained access and enhanced rights for existing, uprated and new Gas Turbine models.
BHEL has been manufacturing and supplying GE designed Gas Turbines in domestic as well as overseas market.
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Bharat Heavy Electricals (BHEL) share price gained in early trade on July 5 after the company extended its gas turbines technology agreement with General Electric Technology GmbH Switzerland.
BHEL is in partnership with the market leader for gas turbines in India. With BHEL-GE partnership in place since 1986, the Indian major has been manufacturing and supplying GE-designed gas turbines in domestic as well as overseas market.
Till date, BHEL has supplied about 230 GE-designed 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.
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In an another release, the company has informed that Shri Krishna Kumar Thakur has been inducted as Director (HR) on the board of the company.
At 9:26am, Bharat Heavy Electricals was quoting at Rs 87.90, up Rs 1.01, or 1.16 percent on the BSE.
The share touched a 52-week high of Rs 91.45 and a 52-week low of Rs 44.40 on 05 December, 2022 and 06 July, 2022, respectively. It is trading 3.88 percent below its 52-week high and 97.97 percent above its 52-week low.