Bhel gains after commissioning Kishanganga hydro-electric project

Bharat Heavy Electricals rose 2.18% to Rs 86.85 at 10:37 IST on BSE after the company said it commissioned 330-megawatts Kishanganga hydro-electric project in Jammu & Kashmir.

The announcement was made after market hours yesterday, 4 April 2018.

Meanwhile, the S&P BSE Sensex was up 458.88 points, or 1.39% to 33,477.95.

On the BSE, 1.80 lakh shares were traded in the counter so far compared with average daily volumes of 4.86 lakh shares in the past two weeks. The stock had hit a high of Rs 87.15 and a low of Rs 86 so far during the day. The stock hit a 52-week high of Rs 121.83 on 25 April 2017. The stock hit a 52-week low of Rs 79.50 on 23 March 2018.

With the commissioning of the third 110 megawatts (MW) hydro generating unit, Bharat Heavy Electricals (BHEL) has successfully commissioned the 330 MW Kishanganga hydro-electric project (HEP) in Jammu & Kashmir (J&K). The first and second units of the project were also recently commissioned in March 2018. Notably, all the three units of Kishanganga HEP have been commissioned within a short span of 18 days.

Being developed by NHPC, the project is located on the river Kishanganga, a tributary of the river Jhelum, in Bandipora district of J&K. The 3x110 MW Kishanganga HEP will be able to generate 1,350 Million Units (MU) of clean electricity annually, facilitating reduction of greenhouse emissions.

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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