BHEL rises on bagging orders worth Rs 3,200 cr

Bharat Heavy Electricals (BHEL) rose 1.13% to Rs 35.80 after the company said it bagged orders worth Rs 3,200 crore for hydro projects.

BHEL has bagged orders valued at Rs 3,200 crore, for Electro-Mechanical (E&M) works for a Hydro Electric Project (HEP) in Andhra Pradesh and E&M works of pump-motor sets for lift irrigation schemes (LIS) in Telangana.

The orders have been received from the EPC contractor for the projects Megha Engineering & Infrastructure (MEIL) and BHEL's scope of work in all the above projects includes design, engineering, manufacturing, supply and supervision of erection, testing & commissioning of the equipment and associated auxiliaries.

Major equipment for the projects will be manufactured at BHEL's manufacturing units in Bhopal, Jhansi, Rudrapur and Bengaluru while supervision of Erection and Commissioning (E&C) at site will be done by BHEL's power sector - Southern Region division, Chennai.

State-run BHEL is engaged in design, engineering, construction, testing, commissioning and servicing of a wide range of products and services to the core sectors of economy. As of 30 September 2020, the Government of India held 63.17% stake in the company.

BHEL reported a consolidated net loss of Rs 552.38 crore in Q2 September 2020 as against net profit of Rs 120.95 crore in Q2 September 2019. Net sales slumped 42.9% to Rs 3,444.31 crore in Q2 September 2020 over Q2 September 2019.

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