Bhel gains after commissioning a thermal power plant unit in Odisha

Bharat Heavy Electricals rose 3.21% to Rs 287.95 at 15:03 IST on BSE after the firm said it has commissioned the second 600 MW thermal unit of Jindal India Thermal Power's upcoming 2x600 MW thermal power project in Odisha.

The announcement was made during market hours today, 29 January 2015.

Meanwhile, the S&P BSE Sensex was up 153.50 points or 0.52% at 29,712.68.

On BSE, so far 3.08 lakh shares were traded in the counter as against average daily volume of 4.84 lakh shares in the past one quarter.

The stock hit a high of Rs 288.10 and a low of Rs 276.10 so far during the day. The stock had hit a 52-week high of Rs 291.50 on 26 May 2014. The stock had hit a 52-week low of Rs 145.75 on 14 February 2014.

The stock had outperformed the market over the past one month till 28 January 2015, advancing 10.78% compared with the Sensex's 8.51% rise. The scrip had, however, underperformed the market in past one quarter, surging 9.35% as against Sensex's 9.96% rise.

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

Bharat Heavy Electricals (Bhel) had in May 2014 commissioned the first 600 MW unit of Jindal India Thermal Power's upcoming 2x600 MW thermal power project in Odisha.

Bhel's net profit fell 72.6% to Rs 124.84 crore on 31.7% decline in net sales to Rs 6027.58 crore in Q2 September 2014 over Q2 September 2013. The company announces its Q3 December 2014 results on 12 February 2015.

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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