Bhel electrifies after new order win

Bharat Heavy Electricals rose 0.8% to Rs 82 at 15:18 IST on BSE after the company won an EPC order for 75 megawatt solar photovoltaic plant.

The announcement was made during market hours today, 26 March 2018.

Meanwhile, the S&P BSE Sensex was up 459.44 points, or 1.41% to 33,055.98

On the BSE, 5.31 lakh shares were traded in the counter so far compared with average daily volumes of 6.27 lakh shares in the past two weeks. The stock had hit a high of Rs 82.50 and a low of Rs 80.65 so far during the day. The stock hit a 52-week high of Rs 121.77 on 25 April 2017. The stock hit a 52-week low of Rs 79.50 on 23 March 2018.

Bharat Heavy Electricals (Bhel) said that the company has won an order for setting up a 75 MW Solar Photovoltaic (SPV) Power Plant on Engineering, Procurement and Construction (EPC) basis, in Gujarat. This will be Bhel's largest Solar PV project till date.

The order for setting up the 75 MW SPY power plant at Gujarat Solar Park, Charanka, Gujarat, has been placed on Bhel by Gujarat Industries Power Company (GIPCL). With this order, Bhel's solar portfolio has risen to 545 MW. The company is presently executing over 150 MW of ground-mounted and rooftop Solar PV projects across the country.

Net profit of Bhel rose 63.77% to Rs 153.19 crore on 5.04% rise in net sales to Rs 6494.44 crore in Q3 December 2017 over Q3 December 2016.

Bhel is an integrated power plant equipment manufacturer and one of the largest engineering and manufacturing companies of its kind in India.

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