BHEL shares surge over 8% on contract win for power project

Shares of Bharat Heavy Electricals Ltd today surged over 8 per cent, adding Rs 4,136.73 crore in its market capitalisation, after the company bagged a Rs 7,800 crore contract for setting up a 1,320 MW thermal power project in Tamil Nadu.
The state-run's firm stock rose by 8.37 per cent and closed the day at Rs 218.85 on the BSE. During the day, it climbed 8.69 per cent to Rs 219.50.
At the NSE, it surged 8.16 per cent to settle at Rs 218.60.
Led by the rally in the stock, the company's market value went up by Rs 4,136.73 crore to Rs 53,565.73 crore.

The stock was the best performer among the blue-chips on both Sensex and Nifty.
On the volume front, 12.63 lakh shares of the company changed hands at the BSE, while over one crore shares were traded at the NSE during the day.

Bharat Heavy Electricals Ltd yesterday bagged the contract for setting up thermal power project in Tamil Nadu.
Valued at around Rs 7,800 crore, it is an EPC contract (Engineering, Procurement and Construction) from Tamil Nadu Generation and Distribution Corporation Ltd (TANGEDCO), Bhel had said in a statement.
The order is for setting up a 2x660 MW coal-fired thermal power project at Ennore Special Economic Zone in Tamil Nadu.

Meanwhile, in the broader market the BSE benchmark Sensex gained 390.49 points to settle at 26,637.28.