Bharat Heavy Electricals rose 1.2% to Rs 190.45 at 11:38 IST on BSE, with the stock extending Monday's 0.67% gains triggered by the company securing a large contract worth Rs 3000 crore from NTPC.
Meanwhile, the S&P BSE Sensex was down 46.66 points or 0.21% at 22,008.82.
On BSE, so far 1.79 lakh shares were traded in the counter as against average daily volume of 24.55 lakh shares in the past one quarter.
The stock hit a high of Rs 192.25 and a low of Rs 188 so far during the day. The stock had hit a 52-week high of Rs 207.90 on 22 May 2013. The stock had 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 24 March 2014, surging 20.29% compared with the Sensex's 5.98% rise. The scrip had also outperformed the market in past one quarter, jumping 9.16% as against Sensex's 4.86% rise.
The large-cap company has equity capital of Rs 489.52 crore. Face value per share is Rs 2.
Shares of Bharat Heavy Electricals (Bhel) have risen 1.87% in two trading sessions from a recent low of Rs 186.95 on 22 March 2014 after the company during trading hours on Monday, 24 March 2014 said it has secured a large contract worth Rs 3000 crore from NTPC for the supply of 2x800 MW steam generators (boilers) with supercritical parameters for an upcoming power project in Odisha. The stock had risen 0.67% to settle at Rs 188.20 on Monday, 24 March 2014.
With this order, Bhel has taken its tally of supercritical boilers of 660 MW, 700 MW and 800 MW ratings to 32 sets, cementing its leadership position in supercritical technology, the state-run power equipment major said in a statement. The order also reinforces BHEL's position at the forefront of the Indian power equipment manufacturing industry, the company said.
Bhel's scope of work in the contract envisages design, engineering, manufacture, supply, erection, testing and commissioning of the Steam Generators and associated auxiliaries.
Bhel net profit fell 41.2% to Rs 694.81 crore on 15.7% decline in net sales to Rs 8462.38 crore in Q3 December 2013 over Q3 December 2012.
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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