BHEL shares climb over 3% after securing a ₹10,000 crore order from Damodar Valley Corporation.
#News Bureau July 29,2024
BHEL Stock Soars: On Monday, July 29, shares of Bharat Heavy Electrical Limited (BHEL) surged by 3.05% to reach an intraday high of ₹327 per share on NSE. This spike followed the company’s announcement of securing a ₹10,000 crore order for a 1600MW project from Damodar Valley Corporation.
In an exchange filing, BHEL stated, “Bharat Heavy Electricals Limited (BHEL) has received a Letter of Intent (LOI) from Damodar Valley Corporation (DVC) for setting up the 2×800 MW Koderma Phase-II Thermal Power Station in Koderma district, Jharkhand on an EPC basis.”
Under the terms of the order, BHEL will be responsible for supplying equipment, including the boiler, turbine, generator, and associated auxiliaries, along with electrical and C&I, balance of plant packages; erection & commissioning; and other civil works, the company stated. The project is expected to be completed within 52 months, BHEL added.
In Q4FY24, Bharat Heavy Electricals Ltd (BHEL) reported a consolidated net profit of ₹489.6 crore, marking a 25.6% decrease from ₹658 crore in Q4FY23. This decline was attributed to higher expenses. However, on a sequential basis, the company’s net profit increased sevenfold from ₹60.3 crore.
Consolidated revenue from operations saw a slight year-on-year increase of 0.4%, rising to ₹8,260.3 crore from ₹8,227 crore. Sequentially, revenue surged 50% from ₹5,503.8 crore. BHEL’s total expenses, which include costs related to power and industrial equipment manufacturing, rose 5% year-on-year to ₹7,794.1 crore in the fourth quarter, up from ₹7,411.6 crore. Sequentially, expenses increased 40.8% from ₹5,537.5 crore.
Bharat Heavy Electricals Ltd (BHEL) is a leading power plant equipment manufacturer in India. The company specializes in the design, engineering, manufacturing, installation, testing, commissioning, and servicing of a diverse array of products and services. BHEL caters to key sectors such as power, transmission, industry, transportation, renewable energy, oil & gas, and defense. As the premier engineering and manufacturing enterprise in the country, BHEL is owned and operated by the Government of India.
According to the Bombay Stock Exchange (BSE), BHEL’s market capitalization is ₹1,12,766.62 crore, placing it in the BSE 200 category. At 9:40 AM, BHEL shares were trading 2.08% higher at ₹323.90, while the Nifty50 was trading 0.33% higher at 24,916.55 levels.
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