Over the past three months, the stock has seen a remarkable rally, recording a growth of more than 56%. In the entirety of 2023, shares of the company registered an impressive gain of 160%.
Bharat Heavy Electricals Ltd (BHEL) saw a surge of more than 2%, reaching a 52-week high on Wednesday following the announcement of a significant contract valued at ₹15,000 crore. The stock opened higher and rallied by 4.68% to achieve a year’s high of Rs 213.20 per share on the NSE, with over 8.74 lakh shares changing hands.
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Over the past three months, the stock has seen a remarkable rally, recording a growth of more than 56%. In the entirety of 2023, shares of the company registered an impressive gain of 160%.
BHEL secured an Engineering, Procurement, and Construction (EPC) contract from NLC India Ltd for a 3×800 MW Talabira thermal power project in Jharsuguda district, Odisha. The contract’s value exceeds ₹15,000 crore, excluding taxes and duties, as per BHEL’s filing with the exchanges.
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The contract entails the supply of equipment, including a boiler, turbine, generator, and associated auxiliaries, along with electrical, control, and instrumentation (C&I). BHEL will handle the erection and commissioning, along with other related civil works for the thermal project.
Manufacturing of the project’s equipment will take place at BHEL’s plants located at Haridwar, Hyderabad, Trichy, Bengaluru, Jhansi, Bhopal, Ranipet, Varanasi, and Rudrapur.
The project is set to be commissioned within 64 months from the Letter of Award (LoA). NLC India has already secured the supply of 2,400 MW from the proposed project through Power Purchase Agreements (PPAs) with Tamil Nadu, Odisha, Kerala, and Puducherry.
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Fuel linkage for the project is sourced from the 20 MTPA Talabira II & III OCP mines of NLC India Ltd, operational since 2020 in Jharsuguda and Sambalpur districts of Odisha.
In terms of stock performance, BHEL’s share price exhibited a notable surge of over 3.72% in the last 5 days and a substantial 18.81% in the past month. The mid-term and long-term trends portray significant growth, with the stock rising by 123.28% in the last 6 months and an impressive 160.53% over the past year.
