BHEL stock powers up on improved prospects for growth, new orders

Many analysts though are bearish due to state-owned firm's muted financials and likely low valuation

The announcement that Bharat Heavy Electricals (BHEL) had bagged a new order worth Rs 4,000 crore led to a spike in the share price to a multi-year high. The order is from Mahan Energen (erstwhile Essar Power MP), a wholly-owned subsidiary of Adani Power, for supplying equipment and supervising the erection and commissioning of a 2x800 MW supercritical thermal project at Bandhaura, Madhya Pradesh.

This is one of several large orders the engineering public sector undertaking (PSU) has received. They include an order of Rs 2,240 crore from NHPC for a project in Roing, Arunachal Pradesh, and orders