Shares of BHEL today surged over 10 per cent in intra-day trade after Japanese Prime Minister Shinzo Abe said the company and Kawasaki Heavy Industries will make carriages for the bullet train from Ahmedabad to Mumbai.
The stock soared 9.99 per cent to Rs 145.80 during the day on BSE. It finally closed at Rs 137.40, up 3.66 per cent.
At NSE, shares of the company zoomed 10.20 per cent to Rs 145.85 in intra-day trade. The stock later ended 3.4 per cent higher at Rs 136.85.
The company's market valuation also rose by Rs 1,188.02 crore to Rs 33,630.02 crore.
In terms of equity volume, 46.89 lakh shares of the company were traded on BSE and over 5 crore shares changed hands at NSE during the day.
The countdown to India's first bullet train from Ahmedabad to Mumbai began today with Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe launching the Rs 1.10 lakh crore project.
BHEL and Kawasaki Heavy Industries Ltd will make rolling stock for the Mumbai-Ahmedabad bullet train, Abe said in his speech.
State-run engineering firm BHEL had in June entered into an agreement with Kawasaki Heavy Industries Ltd (KHI), Japan, to produce stainless steel coaches and bogies for metro rail.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)