Bhel gains after order win

Bharat Heavy Electricals rose 1.52% to Rs 93.60 at 9:25 IST on BSE after the company said it secured a Rs 672 crore contract for 25 KV AC Mainline EMU trains.

The announcement was made on Monday, 25 December 2017, The stock market was closed on Monday, 25 December 2017, on account of Christmas holiday.

Meanwhile, the S&P BSE Sensex was up 36.22 points, or 0.11% to 33,976.52.

On the BSE, 1.80 lakh shares were traded in the counter so far, compared with average daily volumes of 12.49 lakh shares in the past two weeks. The stock had hit a high of Rs 94.80 and a low of Rs 93.35 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 77.47 on 27 December 2016.

Bharat Heavy Electricals (Bhel) said it secured a landmark contract for 146 sets of Insulated Gate Bipolar Transistor (IGBT)-based 3 phase electrics for 25 kilovolt (KV) AC Mainline EMU (MEMU) trains. Valued at Rs 672 crore, the order has been placed on Bhel by by Rail Coach Factory (RCF), Kapurthala. Bhel's scope of the work in the order envisages design, manufacture, supply, installation and commissioning of IGBT-based propulsion system and other equipment for MEMU trains of Indian Railways. These system and equipment will be developed and produced by Bhel at its various manufacturing plants located at Bengaluru, Bhopal and Jhansi.

Bhel's net profit rose 5.9% to Rs 115.42 crore on 3.6% decline in net sales to Rs 6256.22 crore in Q2 September 2017 over Q2 September 2016.

Bhel is an integrated power plant equipment manufacturer and one of the largest engineering and manufacturing companies of its kind in India engaged in the design, engineering, manufacture, construction, testing, commissioning and servicing of a wide range of products and services for core sectors of the economy. The Government of India holds 63.06% stake in Bhel (as per the shareholding pattern as on 30 September 2017).

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