Bhel gains after commissioning thermal power generating unit in West Bengal

Bharat Heavy Electricals gained 1.2% to Rs 168.05 at 9:25 IST on BSE after the company said that it has added one more coal-based power plant to the grid by successfully commissioning a 500 MW thermal generating unit in West Bengal.

The company made the announcement after market hours yesterday, 15 December 2015.

Meanwhile, the BSE Sensex was up 103.83 points, or 0.41%, to 25,424.27.

On BSE, so far 22,763 shares were traded in the counter, compared with an average volume of 4.7 lakh shares in the past one quarter.

The stock hit a high of Rs 168.10 and a low of Rs 167 so far during the day. The stock hit a 52-week high of Rs 299.50 on 4 February 2015. The stock hit a 52-week low of Rs 164.10 on 8 December 2015.

Bharat Heavy Electricals (Bhel) said that the 500 megawatts (MW), unit 3 was commissioned at the upcoming Sagardighi thermal power extension project of West Bengal Power Development Corporation (WBPDCL), located at Murshidabad district of West Bengal. This is the first unit of phase II (2x500 MW) of the power plant and the second unit is also in advance stage of completion, Bhel said. The company said it has already commissioned 3,750 MW of power plants in the utility sector in the current financial year ending 31 March 2016 (FY 2016) and is on track to achieve the target set by the government for the year.

Bhel reported net loss of Rs 204.90 crore in Q2 September 2015 compared with net profit of Rs 124.84 crore in Q2 September 2014. Net sales declined 3.2% to Rs 5834.95 crore in Q2 September 2015 over Q2 September 2014.

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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