BHEL gains on commissioning of 500 MW thermal unit in Tamil Nadu

The stock has outperformed the market by gaining 12% in past one month compared to 4% rise in the Sensex.

Shares of Bharat Heavy Electricals Limited (BHEL) have moved higher by nearly 3% to Rs 271 on the BSE in otherwise subdued market after the company said it has successfully commissioned the second 500 megawatts (MW) unit at Tuticorin Thermal Power Station (TPS).

The first 500 MW unit of the project was commissioned by BHEL on 10th March, 2015.

Tuticorin TPS has been set up by NLC Tamil Nadu Power Limited (NTPL), a joint venture of Neyveli Lignite Corporation (NLC) and Tamil Nadu Generation and Distribution Corporation.

Recently, BHEL had commissioned second unit of NLC’s 250 MW circulating fluidized bed combustion (CFBC) based power plant at Neyveli. The other project being executed by BHEL for NLC is the prestigious, 2x500 MW pulverized lignite fired thermal power plant, also coming up at Neyveli, which is the highest rating set of its kind in the country.

Meanwhile, shares of BHEL have outperformed the market by gaining 12% in past one month as compared to 4% rise in the S&P BSE Sensex.