Shares of Bharat Heavy Electricals Ltd (BHEL) jumped over 10 percent to Rs 111.25 on August 22 after the company secured order worth Rs 4,000 crore from a wholly-owned subsidiary of Adani Power Limited. The scrip hit a new 52 week high of Rs 112.85.

The government-owned company has received the order from Mahan Energen Limited, formerly known as Essar Power MP Limited, a wholly owned subsidiary of Adani Power Limited, BHEL said in a filing to the stock exchanges on August 22.

As per the order, BHEL will be engaged in the supply of equipment like boiler, turbine, generators and supervision, erection and commissioning of a 2×800 MW power project of Mahan Energen Ltd located at Bandhaura in Madhya Pradesh.

The order will be executed in 31-35 months, BHEL said in a filing to the stock exchanges. Turbine generators would be manufactured at BHEL’s Trichy and Haridwar plants, the state-run company said.

BHEL in July had achieved a major milestone with the successful synchronisation of the 660 MW Unit-2 of the 1,320 MW Maitree Super Thermal Power Project (STPP) in Bangladesh.

In 2022-23, the company reported a growth of over 17 percent in new orders received to Rs 23,548 crore compared to the previous year primarily due to its diversified business approach. In 2021-22, BHEL secured new contracts to the tune of Rs 20,078 crore.

In Q1FY24, the state-run company reported a net loss of Rs 343.9 crore as compared to a net loss of Rs 188 crore in the year-ago period.
The company’s total revenue was at Rs 5,003.4 crore during the quarter ended June 2023, up 7.1 percent against Rs 4,672 crore in the corresponding period of the preceding fiscal.

At close on August 22, shares of BHEL were trading 9.76 per cent higher at Rs 110.80 apiece on BSE. The stock continued to rally for the second straight session on August 22 after closing 2.91 per cent higher at Rs 100.85 apiece on the BSE on August 21.

Over the past month, BHEL’s shares have gone up more than 13 per cent. Over the past year-long period, the company’s shares have nearly doubled in value, registering a gain of 111.85 per cent.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.​​​

Shares of Bharat Heavy Electricals Ltd (BHEL) jumped over 10 percent to Rs 111.25 on August 22 after the company secured order worth Rs 4,000 crore from a wholly-owned subsidiary of Adani Power Limited. The scrip hit a new 52 week high of Rs 112.85.

The government-owned company has received the order from Mahan Energen Limited, formerly known as Essar Power MP Limited, a wholly owned subsidiary of Adani Power Limited, BHEL said in a filing to the stock exchanges on August 22.

As per the order, BHEL will be engaged in the supply of equipment like boiler, turbine, generators and supervision, erection and commissioning of a 2×800 MW power project of Mahan Energen Ltd located at Bandhaura in Madhya Pradesh.

The order will be executed in 31-35 months, BHEL said in a filing to the stock exchanges. Turbine generators would be manufactured at BHEL’s Trichy and Haridwar plants, the state-run company said.

BHEL in July had achieved a major milestone with the successful synchronisation of the 660 MW Unit-2 of the 1,320 MW Maitree Super Thermal Power Project (STPP) in Bangladesh.

In 2022-23, the company reported a growth of over 17 percent in new orders received to Rs 23,548 crore compared to the previous year primarily due to its diversified business approach. In 2021-22, BHEL secured new contracts to the tune of Rs 20,078 crore.

In Q1FY24, the state-run company reported a net loss of Rs 343.9 crore as compared to a net loss of Rs 188 crore in the year-ago period.
The company’s total revenue was at Rs 5,003.4 crore during the quarter ended June 2023, up 7.1 percent against Rs 4,672 crore in the corresponding period of the preceding fiscal.

At close on August 22, shares of BHEL were trading 9.76 per cent higher at Rs 110.80 apiece on BSE. The stock continued to rally for the second straight session on August 22 after closing 2.91 per cent higher at Rs 100.85 apiece on the BSE on August 21.

Over the past month, BHEL’s shares have gone up more than 13 per cent. Over the past year-long period, the company’s shares have nearly doubled in value, registering a gain of 111.85 per cent.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.​​​