Bhel edges higher after successfully commissioning a power plant unit

Bharat Heavy Electricals rose 0.49% to Rs 245.40 at 12:48 IST on BSE after the company said it has successfully commissioned a 68 megawatts hydro power plant of SJVN.

The announcement was made during market hours today, 13 June 2014.

Meanwhile, the S&P BSE Sensex was down 169.34 points or 0.66% at 25,406.87.

On BSE, so far 5.52 lakh shares were traded in the counter as against average daily volume of 8.07 lakh shares in the past one quarter.

The stock hit a high of Rs 252.75 and a low of Rs 244.25 so far during the day. The stock hit a 52-week high of Rs 291.50 on 26 May 2014. The stock hit a 52-week low of Rs 100.35 on 20 August 2013.

The stock had outperformed the market over the past one month till 12 June 2014, surging 23.05% compared with Sensex's 8.6% rise. The scrip had also outperformed the market over the past one quarter, jumping 32.9% as against Sensex's 17.02% rise.

The large-cap company has equity capital of Rs 489.52 crore. Face value per share is Rs 2.

Bharat Heavy Electricals (Bhel) said that with the commissioning of one more hydro generating unit of 68 megawatts (MW) at Rampur Hydro Electric Project (HEP) in Himachal Pradesh, the company has successfully commissioned four units of 412 MW hydro power plant of SJVN. The first three units at Rampur HEP, which were commissioned earlier by Bhel in March 2014, have been put into commercial operation in May 2014.

The remaining two sets are also in an advanced stage of execution and are likely to be commissioned by Bhel shortly, the company said in a statement.

Bhel's net profit fell 43% to Rs 1844.59 crore on 21.7% decline in net sales to Rs 14754.89 crore in Q4 March 2014 over Q4 March 2013.

Bhel is the largest engineering and manufacturing enterprise in India in the energy related/infrastructure sector. The company caters to the core sectors including power, transmission, industry, transportation, renewable energy, oil & gas and defence.

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