Home Business BHEL secures a ₹4,000 crore contract from Adani Power for a 1600 MW thermal project

BHEL secures a ₹4,000 crore contract from Adani Power for a 1600 MW thermal project

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Bharat Heavy Electricals Ltd (BHEL) shares are making headlines today as the state-owned company announced it secured an order from Adani Power to establish the 2×800 MW Raigarh Phase-II thermal power plant in Raigarh, Chhattisgarh. The order is valued at approximately Rs 4,000 crore excluding GST.

On Wednesday, BHEL shares rose 1.34% to Rs 242.90, pushing the firm’s market cap to Rs 84,579 crore. Over the past year, the stock has seen remarkable gains, with returns reaching 241%, and within six months, a notable 91.41%. Over two years, it has surged by 370%.

During trading, 13.27 lakh shares exchanged hands, totaling a turnover of Rs 32.53 crore. The stock had hit a 52-week low of Rs 67.63 on April 6, 2023.

BHEL will produce the boiler and turbine generator at its Trichy and Haridwar plants, respectively. The order involves supplying equipment such as boilers, turbines, generators, and related auxiliaries, along with control and instrumentation. BHEL will oversee the erection and commissioning of the power plant as well.

BHEL’s stock RSI stands at 56.5, indicating it’s neither overbought nor oversold. It’s trading above its 5, 10, 20, 50, 100, and 200-day moving averages.

BHEL is a major Indian engineering and manufacturing firm involved in various activities including design, engineering, construction, testing, commissioning, and servicing. With a diverse portfolio of over 180 products, it caters to the growing needs of the core sectors of the economy.

What is the order status of BHEL?

BHEL secured an order from Adani Power Limited to establish the 2×800 MW Raigarh Phase-II Thermal Power Plant in Raigarh, Chhattisgarh. The order includes supplying equipment like boilers, turbines, generators, and related components, as well as control and instrumentation.

The order also involves overseeing erection and commissioning.

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