Bhel gains after receiving LoI from Hindalco

Bharat Heavy Electricals rose 1.06% to Rs 270.90 after the company announced it has received a Letter of Intent from Hindalco Industries for a major power equipment order.

The LOI, received on 3 February 2026, is for the design, engineering, manufacture, supply, installation, commissioning and performance acceptance testing of a 2 x 150 MW boiler-turbine-generator package. The project is part of Hindalcos Aditya Expansion Project Phase II at its aluminium facility in Lapanga, Sambalpur district of Odisha.

The order, awarded through a domestic tender, is valued at approximately Rs 1,200-1,500 crore. Commissioning of the BTG package is scheduled within 35 months for Unit 1 and 37 months for Unit 2 from the effective date of the contract.

Bharat Heavy Electricals (BHEL) is an integrated power plant equipment manufacturer, engaged in the design, engineering, manufacturing, erection, testing, commissioning, and servicing of a diverse range of products and systems. The company caters to key sectors of the Indian economy, including power, transmission, industry, transportation, renewable energy, oil & gas, and defence. BHEL is the flagship engineering and manufacturing enterprise of India and is owned and operated by the Government of India.

The company's consolidated net profit surged 189.82% to Rs 390.40 crore while revenue from operations rose 16.43% to Rs 8,473.10 crore in Q3 December 2025 over Q3 December 2024.

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