Bhel gains after commissioning thermal unit in Rajasthan

Bharat Heavy Electricals rose 1.56% to Rs 254 at 11:52 IST on BSE after the company said it successfully commissioned a 250 megawatts thermal unit in Rajasthan.

The company made the announcement during trading hours today, 1 July 2014.

Meanwhile, the BSE Sensex was up 106.21 points, or 0.42%, to 25,519.99.

On BSE, so far 2.59 lakh shares were traded in the counter, compared with an average volume of 8.67 lakh shares in the past one quarter.

The stock hit a high of Rs 254.85 and a low of Rs 251 so far during the day. The stock hit a 52-week high of Rs 291.50 on 26 May 2014. The stock hit a 52-week low of Rs 100.35 on 20 August 2013.

The stock had underperformed the market over the past one month till 30 June 2014, rising 3.28% compared with 4.94% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 25.49% as against Sensex's 13.76% rise.

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

Bharat Heavy Electricals (Bhel) said the unit was commissioned at Rajasthan Rajya Vidyut Utpadan Nigam's 2x250 megawatts (MW) Chhabra Thermal Power Project (TPP) stage-II, located in Baran District of Rajasthan.

With the commissioning of this fourth 250 MW unit at Chhabra TPP, the capacity of the coal-based thermal power plant has gone up to 1,000 MW. Bhel earlier commissioned three units of similar rating at the Stage I and Stage II of the power project.

Bhel's net profit fell 43% to Rs 1844.59 crore on 21.7% decline in net sales to Rs 14754.89 crore in Q4 March 2014 over Q4 March 2013.

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.

Powered by Capital Market - Live News