Bharat Heavy Electricals Ltd (BHEL) is trading higher by 1% at Rs 209 in otherwise weak market after Indian Railways has signed Memorandum of Understanding (MoU) for setting up a modern Mainline Electric Multiple Unit (MEMU) coach factory at Bhilwara in Rajasthan.
“The entire cost will be borne by BHEL. Government of Rajasthan will provide land to Railways, for setting up the project. In order to make the project viable, Ministry of Railways will give Assured Off- Take orders to BHEL,” according to press release issued by Ministry of Railways.
The stock opened at Rs 208 and hit a high of Rs 210 on NSE. A combined 207,847 shares have changed hands on the counter in opening deals on NSE and BSE.
“The entire cost will be borne by BHEL. Government of Rajasthan will provide land to Railways, for setting up the project. In order to make the project viable, Ministry of Railways will give Assured Off- Take orders to BHEL,” according to press release issued by Ministry of Railways.
The stock opened at Rs 208 and hit a high of Rs 210 on NSE. A combined 207,847 shares have changed hands on the counter in opening deals on NSE and BSE.