Shares of Bharat Heavy Electricals Limited (BHEL) experienced a significant boost, soaring by 12% on Monday, marking its most substantial single-day surge since September 1, 2021. The surge comes in the wake of another potentially sizable order in the pipeline.
The rise in BHEL’s stock is attributed to the board approval of a substantial investment by state-run peer NTPC. NTPC approved an investment of Rs 17,195.3 crore for the third phase of the Singrauli Super Thermal Power Project, a 2×800 MW project. Notably, BHEL was the sole bidder for the construction of the Singrauli plant, sparking optimism and driving the surge in BHEL’s shares.
As of the end of the first half of the financial year 2024, BHEL’s order book stands at a commendable Rs 1.14 lakh crore, with an order inflow of Rs 33,000 crore during the same period.
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Earlier reports had hinted at BHEL being awarded the Talabira Power Project, valued at Rs 19,422 crore. The official disclosure on January 15 confirmed that NLC India
ICICI Securities
India’s Mutual Funds have displayed growing confidence in BHEL, steadily increasing their stake from 1.5% in June 2022 to a notable 6.27% by the end of December 2023.
As of the latest market
Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.