BHEL gains on commissioning of thermal unit in Karnataka

In past four trading sessions, the stock rallied 18% as compared to 7% rise in the S&P BSE Sensex.

Shares of Bharat Heavy Electricals Limited (BHEL) moved higher by 5% to Rs 108 on the BSE on commissioning its first 700 mega watt (MW) supercritical thermal unit at Bellary Thermal Power Project (TPP) in Karnataka.

The order for the Bellary project of by Karnataka Power Corporation Limited (KPCL) was won by BHEL through International Competitive bidding (ICB) on Engineering, Procurement and Construction (EPC) basis. Notably, this is the third unit commissioned by BHEL at Bellary, where two units of 500 MW supplied and executed by BHEL, are already in operation, BHEL said in a statement.

Earlier, this week, on March 1, BHEL announced that it has bagged a Rs 5,600 crore order for setting up the 1,600 MW coal-based thermal power project with supercritical parameters, involving two units of the country’s highest rating 800 MW sets, in Tamil Nadu.

In past four trading sessions, the stock rallied 18% from Rs 91 on February 29, as compared to 7% rise in the S&P BSE Sensex.

At 12:05 AM, the stock was up 4% at Rs 107 on the BSE. A combined 8.64 million shares changed hands on the counter on the BSE and NSE.