Bhel gains after commissioning thermal power plant in Karnataka

Bharat Heavy Electricals rose 3.87% to Rs 122.10 at 14:15 IST on BSE after the company successfully commissioned the first 800 megawatts supercritical thermal unit in Karnataka.

The announcement was made during market hours today, 25 May 2016.

Meanwhile, the S&P BSE Sensex was up 480 points or 1.9% at 25,785.47.

On BSE, so far 5.05 lakh shares were traded in the counter as against average daily volume of 11.07 lakh shares in the past one quarter. The stock hit a high of Rs 122.15 and a low of Rs 118.75 so far during the day. The stock hit a 52-week high of Rs 289.85 on 21 July 2015. The stock hit a 52-week low of Rs 90.40 on 29 February 2016. The stock had underperformed the market over the past one month till 24 May 2016, sliding 7.95% compared with Sensex's 2.06% fall. The scrip had, however, outperformed the market in past one quarter, surging 25.59% as against Sensex's 9.6% rise.a

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

Bharat Heavy Electricals (Bhel) said that the unit has been commissioned at the 1600 megawatts (MW) Yeramarus Thermal Power Station (TPS) located in Raichur district of Karnataka. Yeramarus is being developed by Raichur Power Corporation (RPCL)-a joint venture of Bhel and Karnataka Power Corporation (KPCL). The second unit of this project is also in an advanced stage of construction and is expected to be commissioned shortly, Bhel said.

Meanwhile, as part of the semi-annual reconstitution of S&P BSE Indices, the Bombay Stock Exchange (BSE) in a circular dated 20 May 2016, announced that Power Grid Corporation of India (PGCIL) will replace Bhel from the 30-share Sensex with effect from 20 June 2016.

Bhel declares its Q4 March 2016 result on Friday, 27 May 2016. The company posted net loss of Rs 1101.99 crore in Q3 December 2015, as compared with net profit of Rs 212.60 crore in Q3 December 2014. Net sales fell 14% to Rs 5230.13 crore in Q3 December 2015 over Q3 December 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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