Bharat Heavy Electricals (BHEL) rose 3.76% to Rs 42.75 after the company said it commissioned a 1.7 megawatts solar photovoltaic plant in Madhya Pradesh for the Indian Railways.
The plant will directly feed power to traction systems of Indian Railways, the company said in a BSE filing made during market hours today.
"The project is a landmark achievement in the history of solar power, as this is the first time that solar power is being directly used for traction applications. Notably, with this, BHEL has achieved direct injection of single-phase 25 kV power to traction substation of Indian Railways", the company said in a statement.
The project had been jointly conceptualised and developed by BHEL and Indian Railways. BHEL's scope in the project envisaged design, engineering, manufacture, supply, construction, erection, testing, commissioning and O&M (operation and maintenance) services based on the inputs provided by Indian Railways.
BHEL's consolidated net profit fell 17.21% to Rs 162.67 crore on a 23.33% decline in net sales to Rs 5,459.24 crore in Q3 FY20 over Q3 FY19.
State-run BHEL is an engineering and manufacturing company. As of 31 March 2020, the Government of India holds 63.171% stake in the company.
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