Bharat Heavy Electricals (BHEL) rose 5.71% to Rs 60.15 after the company won an order from Goa Shipyard for supplying upgraded super rapid gun mount (SRGM).
SRGM is the main gun used in most warships in Indian Navy. The order envisages supply, installation and commissioning of the entire system - upgraded SRGM and accessories for Triput Class Frigates of the Indian Navy, which will be manufactured by the Haridwar unit of BHEL.On a consolidated basis, BHEL reported net loss of Rs 448.20 crore in Q1 FY22, lower than net loss of Rs 893.14 crore in Q1 FY21. Net sales rose 43.6% to Rs 2,723.82 crore in Q1 FY22 over Q1 FY21.
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 June 2021, the Government of India held 63.17% stake in the company.
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