BHEL gains on Rs 7,800 crore power project contract

The stock rallied 4% to Rs 210 on NSE after the company said it bagged EPC contract for setting up a 1,320 MW thermal power project in Tamil Nadu.

Bharat Heavy Electricals Limited (BHEL) has rallied 4% to Rs 210 on NSE after state-run company said it has bagged EPC (engineering, procurement & construction) contract worth of Rs 7,800 crore for setting up a 1,320 MW thermal power project in Tamil Nadu.

Valued at around Rs 7,800 crore, the order for setting up a 2x660 MW coal-fired supercritical thermal power project at Ennore SEZ in Tamil Nadu from Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO), has been won by BHEL against International Competitive Bidding (ICB), which was open to all qualified domestic and foreign bidders and included debt financing by the bidder, BHEL said in a press release.

BHEL’s scope of work in the project includes design, engineering, manufacture, supply, construction, erection, testing & commissioning for the EPC Package comprising 2x660 MW supercritical sets, it added.

The stock opened at Rs 208 and touched a high of Rs 210 on NSE. A combined around one million shares changed hands on the counter in early morning deals on NSE and BSE.