Bharat Heavy Electricals (BHEL) surged 13.46% to Rs 289.60 after it received orders from Adani Power and Mirzapur Thermal Energy, the power arm of Adani Group aggregating to over Rs 7,000 crore.
The order bagged from Adani Power includes supply of equipment (boiler, turbine, generator) and supervision of erection & commissioning for 2x800 MW power project based on supercritical technology at Raipur, Chhattisgarh.
The boiler and turbine generator are to be manufactured at BHELs Trichy and Haridwar plants respectively. The Unit 1 of the contract is to be supplied in 35 months and Unit 2 to be supplied 41 months. The cost of the project is more than Rs 3,500 crore.
Further, the firm won another order from Mirzapur Thermal Energy which constitutes supply of equipment (boiler, turbine, generator) and supervision of erection & commissioning for 2x800 MW power project based on supercritical technology at Mirzapur, Uttar Pradesh.
The boiler and turbine generator are to be manufactured at BHELs Trichy and Haridwar plants respectively. The Unit 1 of the contract is to be supplied in 35 months and Unit 2 to be supplied 41 months. The cost of this project is also over Rs 3,500 crore.
State-run Bharat Heavy Electricals (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 31 March 2024, the Government of India held 63.17% stake in the company.
The company's net profit declined by 24.92% to Rs 484.36 in Q4 FY24 as compared with Rs 645.13 crore posted in Q4 FY23. Net sales rose 0.83% to Rs 7,883.88 crore in the quarter ended 31 March 2024 as compared to Rs 7,819.37 crore recorded in Q4 FY24.
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