Bharat Heavy Electricals rose 1.98% to Rs 239.50 at 13:13 IST on BSE after the company said it successfully commissioned another 600 megawatts thermal unit in Chhattisgarh.
The announcement was made during trading hours today, 13 April 2015.
Meanwhile, the BSE Sensex was up 85.28 points, or 0.30%, to 28,964.66.
On BSE, so far 1.89 lakh shares were traded in the counter, compared with an average volume of 4.82 lakh shares in the past one quarter.
The stock hit a high of Rs 241.25 and a low of Rs 235 so far during the day. The stock hit a 52-week high of Rs 299.50 on 4 February 2015. The stock hit a 52-week low of Rs 173 on 17 April 2014.
The stock had underperformed the market over the past one month till 10 April 2015, falling 9.43% compared with 0.59% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 7.76% as against Sensex's 5.18% rise.
The large-cap company has an equity capital of Rs 489.52 crore. Face value per share is Rs 2.
Bharat Heavy Electricals (Bhel) announced that the unit was commissioned at Dainik Bhaskar Power (DBPL)'s upcoming 2x600 megawatts (MW) thermal power project located at Dhabra in Janjgir Champa District of Chhattisgarh. This is the second unit of this power project, commissioned by Bhel. The first 600 MW unit was successfully commissioned by the company in 2014.
Bhel's scope of work in the contract envisaged design, engineering, manufacture, supply, erection and commissioning of Steam Turbines, Generators and Boilers, along with associated Auxiliaries and Electricals, besides state-of-the-art Controls & Instrumentation (C&I) and Electrostatic Precipitators (ESPs).
Bhel has been a partner in the power development programme of the state of Chhattisgarh. With a cumulative installed capacity of 11,400 MW, the share of Bhel sets stands at 68% of the total installed capacity in the state. Notably, this in-house engineered 4-cylinder 600 MW rating TG set establishes the engineering capability of Bhel. The company has so far contracted sets of 600 MW sets, out of which twelve have already been commissioned. A large number of similar sets ensure easy availability of spares and operator's familiarity. Bhel supplied thermal sets meet the performance standards notified by CEA. As per a recent CEA study on the performance of sub-critical sets in the country, Bhel supplied sets have demonstrated a better operating Heat rate resulting in less coal consumption per unit of power produced.
On a provisional basis, Bhel's net profit fell 62.03% to Rs 1,314 crore on 23.63% decline in turnover to Rs 30806 crore in the year ended March 2015 (FY 2015) over the year ended March 2014 (FY 2014). The provisional result was announced during trading hours on 6 April 2015.
Bhel after the company's orders inflow, on a provisional basis, rose 10.02% to Rs 30814 crore in the year ended March 2015 over the year ended March 2014.
Bhel is the largest engineering and manufacturing enterprise in India in the energy related/infrastructure sector. The company caters to the core sectors including power, transmission, industry, transportation, renewable energy, oil & gas and defence.
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