BHEL gains on Rs 1,300 crore NPTC order

The stock has recovered nearly 3% from its intra-day's low on BSE.

Bharat Heavy Electricals Limited (BHEL) has moved higher by 1.4% at Rs 142, recovering nearly 3% from intra-day’s low, after the company has received order worth of Rs 1,300 crore from the state-owned electric utilities firm NTPC.

The order involves supply and installation of steam generator, steam turbine generator and electrics package for the upcoming 500 MW Feroze Gandhi Unchahar thermal power project.

The contract has been received from NTPC BHELBSE 1.29 % Power Projects Private Limited (NBPPL), a joint venture between NTPC and BHEL, the company said in a statement.

BHEL’s scope of work in the contract envisages design, engineering, manufacture, supply and erection and commissioning of steam generator, steam turbine generator and their auxiliaries.

The stock opened at Rs 140 and touched a low of Rs 138 in early morning deals on BSE. A combined 3.57 million shares have changed hands on the counter till noon deals on BSE and NSE.