Bhel gains after winning orders

Bharat Heavy Electricals was up 1.17% to Rs 69.40 at 09:23 IST on the BSE after the company said it won Rs 800 crore EPC orders for 200 megawatts solar power plants.

The announcement was made on 16 June 2019.

Meanwhile, the S&P BSE Sensex was up by 140 points or 0.35% to 39,312.07.

On the BSE, 2.63 lakh shares were traded in the counter so far compared with average daily volumes of 19.12 lakh shares in the past two weeks. The stock had hit a high of Rs 69.90 and a low of Rs 69.25 so far during the day. It hit a 52-week high of Rs 83.25 on 07 September 2018 and a 52-week low of Rs 56.25 on 05 February 2019.

Bharat Heavy Electricals (Bhel) said it won two engineering procurement construction (EPC) orders for setting up Solar Photovoltaic (SPV) plants with a cumulative capacity of 200 megawatts (MW). Valued at over Rs 800 crore, the orders have been secured from NTPC and Gujarat State Electricity Corporation (GSECL). The NTPC order is for setting up floating SPV plant of 100 MW capacity at NTPC Ramagundam in Telangana, while the GSECL order involves setting up a 100 MW ground-mounted SPV plant at Raghanesda Ultra Mega Solar Park, Banaskantha in Gujarat.

Bhel reported 49.33% rise in net profit to Rs 682.70 crore on 0.05% rise in net sales to Rs 9,836.50 crore in Q4 March 2019 over Q4 March 2018.

Bharat Heavy Electricals (Bhel) is an integrated power plant equipment manufacturer and one of the engineering and manufacturing companies in India.

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