BHEL Shares Rise 2% After Winning ₹6,100 Crore NTPC Project
At 10.35 am, BHEL shares were trading at Rs 271.25 on the Bombay Stock Exchange (BSE), showing a gain of 1.92%.
Ankush Pandey
INTRO
- BHEL shares rose over 2% after the NTPC contract was announced
- The company had earlier secured a Rs 11,000 crore contract with Adani Power
- The stock is trading nearly 2% higher on the Bombay Stock Exchange
Bharat Heavy Electricals (BHEL) shares gained over 2% in early trade on Monday after NTPC announced notification for the 1x800 MW Sipat Supercritical Thermal Power Project Stage-III.
At 10.35 am, the Bombay Stock Exchange (BSE) saw BHEL's stock trading at Rs 271.25, indicating a gain of 1.92%.
The contract awarded to BHEL involves a wide scope of work, including extensive engineering, procurement and construction (EPC) activities. This includes the supply of critical equipment, construction, and commissioning of the plant, as well as various civil works, with the total project value exceeding Rs 6,100 crore, excluding GST.
For BHEL, which has been aggressively pursuing large contracts in the electricity industry, the statement represents a significant breakthrough.
The company signed a major contract with Adani Power and its subsidiary Mahan Energen Ltd., valued over Rs 11,000 crore, just last month. This transaction entails the establishment of three 2x800 MW supercritical thermal power plants in Mahan, Madhya Pradesh, and Kawai, Rajasthan.
Furthermore, BHEL's recent achievements extend beyond a single contract. In August, the Damodar Valley Corporation (DVC) awarded a 1,600 MW project to the state-owned enterprise. The construction of this coal-based unit in Jharkhand's Koderma district will strengthen BHEL's standing as an EPC provider for thermal power projects.
By supporting India's expanding energy needs and improving its operating capacity, the company's ongoing initiatives are projected to establish BHEL as a major participant in the development of the country's infrastructure.
BHEL's long-term growth and performance will be greatly dependent on its strategic initiatives and partnerships, given the increasing demand for dependable energy sources.
